Gas giants say AUS opposition's plan to reserve supplies could worsen shortfall

1/4/2025 14:13

Global gas giants said on Tuesday an election campaign proposal by Australia's opposition coalition that would force producers to direct more export gas into the domestic market would deter investment without tackling looming shortages.



Energy has emerged as a major campaign issue ahead of the May 3 general election, with the conservative Liberal-National coalition pledging to bring down power bills through a gas reservation scheme.



The centre left Labor government of Prime Minister Anthony Albanese introduced a price cap on gas wholesale prices in 2022, and has implemented regulatory and other measures to meet domestic energy needs and reduce emissions.



At a conference in Sydney, Australian executives of Shell, ExxonMobil and Chevron pushed back on the coalition's proposal, arguing more government intervention would hamper the development of gas supply.



Cecile Wake, chair of Shell Australia, which exports gas from the Queensland Curtis LNG project in the state of Queensland, said export controls were not the solution.