ACCC report shows new gasfields won’t cut gas prices as export continues

Published: August 03, 2018

The ACCC Gas Inquiry Interim report, released yesterday, reveals there will be ongoing high gas prices for Australians into the future due to the gas export terminals linking our gas to international pricing.

Lock the Gate Alliance says the report clearly demonstrates the vast majority of gas produced in Australia currently is being shipped overseas.

Lock the Gate’s Naomi Hogan, said, "The ACCC push for new gasfields in NSW and Victoria flies in the face of the evidence presented in its own report.

“The report reveals that gas exporting companies are sucking up a lion’s share of Australian gas and continuing to charge Australian gas users through the nose.

“The outlook for gas continues to be high cost and high risk.

“Instead of trying to force farmers and regional communities into polluting gasfields, the Government should be helping businesses innovate to get off expensive gas in order to save money and create new jobs.

“Onshore unconventional fracking produces expensive, difficult to extract gas. It will cost the consumer more and put Australian waterways at risk.

“Lower cost renewable energy and solar heat is now emerging as a serious option for manufacturers and households who can take steps to get off expensive and polluting gas.”

Showing 2 reactions

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  • Bob Johnson
    commented 2018-08-04 20:22:54 +1000
    The Gas exploiters are sitting on undisclosed gas deposits for overseas sales ongoing.
    If they were obliged to reveal to the owners, Australians all, the resources found as a condition of the lease we would be better served by our responsible Governments.
    Unfortunately, too many Gov. ministers get follow up jobs with the miners and some unkind people say they do not work for our best interests (Legally of course ) Many ex ministers including Martin Ferguson are now entitled to support mining Corps.
    Ask him what sort of return are we getting from the new LPG industry?

    We need:
    Laws to protect our proven reserves, time limits on development approvals, prevention of price manipulation, taxation of job replacement by robotics and off-shored jobs and IP income resources. It all comes down to LAW Law.
    Are ANY of our Mining Ministers since Whitlam Gov. Rex Connor trying to protect our common wealth?
  • David Rowell
    commented 2018-08-03 15:56:12 +1000
    LNG is a commodity traded worldwide so prices as a result are linked in our case, to the Asia Pacific market. Before LNG we had a closed and controlled domestic market with artificially low prices. Without local domestic supply (read low transmission costs) Australia leaves itself in a position where the big LNG operators call the shots. There are easily developed local Gas Resources available to combat this imbalance so contrary to Naomi’s opinion here and with respect, I think it is she who is missing the point of the ACCC Report. More supply options means better competition and lower costs. Ban the bans.

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