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Words: Hamish SpenceProducer: Anthony Lucas
Is Australia going to run out of gas in 2023?
Explainer 
Gina Cass-Gottlieb
ACCC
A new report by the consumer watchdog has forecast concerning gas shortfalls in Australia in 2023.Here’s what you need to know...
The Australian Competition and Consumer Commission’s (ACCC) gas inquiry 2017-2025 interim report has forecast record gas shortfalls by 2023 in the southern states unless something is done.
The ACCC report
The report forecasts a 56 petajoule shortfall in east coast gas supply for 2023, a figure referred to as a “significant risk to energy security” and equivalent to 10 per cent of expected domestic demand.
Predicted shortfall
Australia has “relatively abundant gas resources”, according to the report, but a large amount of it is shipped overseas for higher prices. Around 70 per cent of exporters sell their excess gas overseas to spot markets.
What's causing the shortfall?
The system has also been under pressure due to soaring demand for gas this winter because of the extreme pressure on the broader energy system.
Australia’s Resources Minister Madeleine King says the report was “damning” of gas exporters after it found they were not engaging locally “in the spirit” of the heads of agreement.
The Minister's reponse
It sets out patterns and instances of behaviour that are clearly not acceptable in an environment where we do have an international and domestic energysupply crisis.
Resources Minister,Madeleine King
“
The watchdog is recommending the Federal Government intervene and pull what's referred to as a "gas trigger" which allows the government to put export controls on suppliers to divert gas for domestic use.
The gas 'trigger'?
Madeleine King
Australia’s Resources Minister
The Australian Petroleum Production and Exploration Association (APPEA) has assured the public there will be enough gas for everyone in 2023.“There has never been an actual shortfall and there will not be one next year – this is the ACCC signalling that action is needed, and the industry will act.”
The industry reponse
– Damian Dwyer.
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