Australia Is Urgently Looking for Gas for Its Domestic Market
Australia has announced new offshore gas exploration permits for its east and west coast markets in a bid to ease concerns about gas shortages.
“As ageing coal generation is phased out in the coming years, gas will continue to be needed to support renewable energy production and as a back-up source during periods of peak energy demand,” Resources Minister Madeleine King said in a statement, as reported by Reuters.
A total of 10 permits will be issued with a carbon capture and storage (CCS) assessment, prompting criticism from Greenpeace Australia, which called it a “step backwards” in emissions reductions.
The government’s move comes after Australia’s competition authority warned earlier this month that the east coast could face gas shortages from 2027, a year earlier than originally forecast.
Australia produces more gas than it needs to meet domestic demand, but most of it is supplied under export contracts. However, any gas discovered will now be supplied to the domestic market, Reuters reports.
