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Gas crisis looms for Victoria and NSW within three years unless production is ramped up – NEWS.com.au
Gas crisis looms for Victoria and NSW within three years unless production is ramped up
Victoria and NSW are facing a gas supply crisis and price hikes within three years unless additional gas developments are ramped up and a more competitive market, ACCC chairman Rod Sims has warned.Queensland is also in danger of supply not meeting demand by 2026 as Mr Sims called for a more competitive local gas market.
He said at the core of the issue was a dysfunctional market where, despite gas prices falling significantly over the past year, costs were still higher than export parity.
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