Australia Fails to Reassure Buyers Over LNG Export Curbs

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Australia’s efforts to address term LNG buyers’ concerns over how new domestic reforms will affect their contracted LNG supplies have failed to reassure the market and are threatening the country’s reputation as a reliable supplier. Canberra is reforming the Australian Domestic Gas Security Mechanism (ADGSM), which since 2017 gave the government powers to restrict LNG exports to avoid a domestic gas shortfall. To allay the gas market’s concerns over the reforms, the government introduced more detailed guidelines outlining the powers vested on Resources Minister Madeleine King to curb LNG exports in each quarter as opposed to annually. The final guidelines were unveiled just before the reformed ADGSM took effect on Apr. 1, and are valid until Jan. 1, 2030.

Low-Carbon Policy, Policy and Regulation, Gas Supply, Gas Prices, LNG Supply, LNG Contracts
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