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Australia Signs Gas Deal With LNG Exporters to Avoid Shortfall

  • Nation had forecast a deficit of natural gas on east coast
  • Minister says she had considered export controls on LNG plants

Australia has secured more natural gas for domestic users to avoid a supply shortage in one of the world’s top exporters of the fuel.

The government said it signed a heads of agreement that ensures domestic supply until 2026 with east coast liquefied natural gas plants linked to Shell Plc, ConocoPhillips and Santos Ltd. Under the deal, exporters are expected to first offer uncontracted gas domestically, on competitive terms with reasonable notice, before sending it abroad, Resources Minister Madeleine King said.