Bloomberg News

East Australia May Face Gas Supply Deficit, Market Operator Says

December 10, 2012

Australia’s east coast may face a natural gas supply shortfall amid growing local and Asian demand should companies in the area fail to develop reserves in time, according to the Australian Energy Market Operator.

A large quantity of the reserves in eastern Australia is committed to the liquefied natural gas export projects being built in Queensland state by BG Group Plc (BG/), Santos Ltd. (STO) and ConocoPhillips (COP:US), the operator said in an e-mailed report.

Australia also will need to invest A$4 billion ($4.2 billion) in electricity transmission networks over 20 years, less than an earlier forecast of A$7 billion, because of slower energy demand growth, the market operator said in a separate statement.

To contact the reporter on this story: James Paton in Sydney at jpaton4@bloomberg.net

To contact the editor responsible for this story: Andrew Hobbs at ahobbs4@bloomberg.net


Ebola Rising
LIMITED-TIME OFFER SUBSCRIBE NOW

Companies Mentioned

  • COP
    (ConocoPhillips)
    • $77.84 USD
    • -0.28
    • -0.36%
Market data is delayed at least 15 minutes.
 
blog comments powered by Disqus