New gas projects approved, but supply buffer shrinks
The Albanese government has approved two small gas projects off the coast of Victoria, as the ACCC warned on Friday that a domestic supply buffer has shrunk as more gas is shipped overseas.
The competition watchdog’s latest gas inquiry report said the projected gas surplus on the east coast had shrunk for the first quarter of next year, raising the possibility of Queensland LNG exporters needing to divert more uncontracted gas to the domestic market.
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