Labor steps on the gas to fuel its climate targets

New gas projects will gain stronger federal support in a Labor pledge to deliver affordable gas to customers for decades to come, as it warns of shortages within four years unless the nation boosts supply.

An official report to support the strategy says Australia could fill the future shortfalls by opening new gas fields such as Scarborough, being developed by Woodside off the Western Australian coast, and Narrabri, being developed by Santos in northern NSW. Former prime minister Scott Morrison outlined a “gas-fired recovery” policy during the pandemic with a vow to open up new gas fields, including the Beetaloo Basin in the Northern Territory, but no new gas field has been developed in recent years.

While the new plan does not force any change on state governments, it clashes with Victorian Energy Minister Lily D’Ambrosio because of her criticism of east coast gas producers, whom she has argued continue to export large volumes to international buyers.“Gas companies in Queensland are putting their export profits ahead of domestic supplies. That has been the case now for a number of years,” D’Ambrosio said.

The Future Gas Strategy will contain analysis of the future gas supply balance, which it is understood will reflect the Australian Energy Market Operator’s current forecasts.have historically provided up to two-thirds of southern states’ gas demand, but are rapidly drying up. AEMO forecasts gas production in NSW and Victoria will drop from 363 petajoules in 2023 to 236 petajoules in 2028.

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