Why it’s important: Industry and households depend on gas to keep the lights on as coal power closes down
Context: Supply from Victoria’s Bass Strait gas fields will fall sharply from mid-year
What’s next: AEMO says new investment is urgently needed to avert shortfalls in supply from 2028
Santos boss Kevin Gallagher says new gas project approvals need to be fixed in Australia and the US to prevent Asian buyers falling into the hands of Russian and Middle Eastern suppliers.
He made the comments on the same day as the energy market operator warned of a fresh deterioration in the supply outlook for Victoria due to looming east coast gas shortfalls.
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Ben Potter writes on energy, climate change and innovation, and has been Washington correspondent, opinion editor and companies editor. Connect with Ben on Twitter. Email Ben at bpotter@afr.com
