Gas producer Senex Energy has pulled about $200 million of purchase orders for its stalled Atlas project in Queensland, sources close to the company say, as evidence firms of investment drying up after last month’s gas market intervention by the Albanese government.

The move by Senex, owned by South Korean steel giant Posco alongside Gina Rinehart’s Hancock Energy, comes as Cooper Energy put a proposed gas project under review off Victoria, citing the shock move to effectively regulate market prices on the east coast on an ongoing basis.