Gas prices and accessibility in the eastern Australian gas market have been identified as key risks for Australian business competitiveness and cost of living pressures.
By the end of the decade, predicted supply shortfalls, combined with factors such as international export markets, ageing infrastructure, and state and territory restrictions, are resulting in a higher new ‘normal’ gas price and constrained availability.
This study into offshore gas basins in south east Australia:
- examined how much gas is available for potential future input into the east coast domestic gas market
- identified short and long term opportunities to maximise sustainable gas recovery
- found offshore south east Australia basins have sufficient known gas resources to provide gas to the local market for the next 20 years, providing there is ongoing investment in exploration and development
The Australian Government commissioned this study as part of the A$90 million investment in domestic gas security and supply. Data and analysis was provided by the National Offshore Petroleum Titles Administrator and Geoscience Australia.
The published study excludes information that is commercial in confidence or subject to legislative restrictions.