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Gas Pricing

 

Gas pricing will be significantly affected by the establishment of three Liquefied Natural Gas (LNG) export terminals in QLD, which are scheduled to be at full capacity from 2015 and triple the volume of gas exports in the next five years. This will put pressure on domestic supply and prices, making it difficult to secure long term gas contracts and cause prices to double in price to around $10 per gigajoule (GJ).

 

This shortage has lead for calls from manufacturing lobby groups to reserve gas for domestic use. Conversely, energy companies expressed a need to expand supply through exploration of coal seam and shale gas, although this has met with concerns over potential contamination of waterways and farming land.

 

Gas Forecast Usage (Source: AEMO 2015)