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East Australia May Face Gas Supply Deficit, Market Operator Says

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Dec. 11 (Bloomberg) -- 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, Santos Ltd. and ConocoPhillips, 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

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