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Australian government encouraged by crunch meetings

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LNG Industry,

Reuters are reporting that the Australian government has announced that it was encouraged by steps taken to avert a gas crisis after a meeting with producers and the energy market operator, but it held out the threat of regulatory steps to address any supply shortages.

Australia's energy market operator and east coast LNG exporters updated Prime Minister Malcolm Turnbull on 19 April on measures taken since a March meeting to discuss a domestic gas crunch expected to emerge from 2019.

Since then, companies like France's Engie SA and Origin Energy, have secured deals to ensure gas supply to power plants at peak times, easing some short-term concerns about shortages that have already helped to trigger blackouts.

The Australian Energy Market Operator warned in March of a shortage set to hit eastern Australia just as the country becomes the world's top LNG exporter. At least one of the east coast LNG plants, Gladstone LNG (GLNG), is drawing gas out of the domestic market to help meet its export contracts.

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