Santos CEO Kevin Gallagher says fix gas approvals as Victorian outlook slides and East Coast shortfalls loom

Why it’s important: Industry and households depend on gas to keep the lights on as coal power closes downWhat’s next: AEMO says new investment is urgently needed to avert shortfalls in supply from 2028

Mr Gallagher said activists were using the legal system to frustrate new liquefied natural gas projects such as Santos’ Barossa, PNG, Gladstone and Darwin facilities which could provide 7 million tonnes annually to Asia, and if similar US hurdles were maintained “it would leave a hole that I don’t think in the long term any of us could fill”.

Peak gas demand days occur during winter extremes when gas heating surges and gas generation is needed because of a lack of solar and wind generation.“From 2028, supply gaps will increase in size as Bass Strait production falls significantly,” AEMO chief executive Daniel Westerman said, and diesel might have to be used in gas generators as a temporary measure.

But federal Climate Change and Energy Minister Chris Bowen said that Albanese government measures to better manage supply shortfalls, boost storage and lower prices had pushed back forecast supply gaps by two years to 2028.warned of peak-day shortfalls as early as last winter – which did not eventuate – and that LNG export contracts might need to be broken by 2026 to keep domestic customers supplied.

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