News Brief: Australia’s East Coast Gas Policy Shift
Summary
The Australian government has announced a policy to force east coast LNG exporters to reserve up to 25% of their production for the domestic market from 2027, aiming to correct a long-standing market failure that caused local shortages despite Australia being a major gas exporter.
Key Points
- Core Problem: A decade of unrestricted gas exports created a domestic shortage, driving up electricity prices, inflation, and hurting manufacturing.
- The New Policy: A domestic gas reservation scheme targeting exporters, set to start in 2027. It avoids an export tax.
- Main Culprit: Analysis singles out Santos for draining the domestic market to fulfill export contracts, while Origin and Shell have supplied locally.
- Historical Failure: Warnings and calls for reservation (like in Western Australia) were ignored after intense industry lobbying against “protectionism”.
- Economic Cost: Soaring energy prices post-Ukraine war worsened inflation. East coast gas prices tripled after exports began.
- Future Outlook: Global gas glut may lower prices, but the policy aims to secure affordable local supply. The industry warns it could deter new investment.
新闻简报：澳大利亚东海岸天然气政策转变
总结
澳大利亚政府宣布一项政策，将从2027年起强制东海岸液化天然气出口商将其高达25%的产量保留给国内市场，旨在纠正一个长期存在的市场失灵问题——尽管澳大利亚是主要天然气出口国，但国内却供应短缺。
关键点
- 核心问题：十年不受限制的天然气出口导致国内短缺，推高了电价和通货膨胀，并重创制造业。
- 新政策：针对出口商的国内天然气保留机制，定于2027年启动。该政策未选择征收出口税。
- 主要责任方：分析指出桑托斯公司为履行出口合同而抽空国内市场，而起源能源和壳牌公司则一直供应本地市场。
- 历史性失误：早期关于保留机制的警告（如西澳大利亚州）在行业强力游说反对“保护主义”后被忽视。
- 经济代价：乌克兰战争后的能源价格飙升加剧了通货膨胀。东海岸天然气价格在出口开始后上涨了两倍。
- 未来展望：全球天然气供应过剩可能拉低价格，但该政策旨在保障可负担的本地供应。行业警告这可能阻碍新投资。
Original Article Link: https://www.abc.net.au/news/2025-12-23/the-gas-fix-to-a-problem-that-should-never-have-been/106171870