Australian LNG Projects to Supply 20% of Gas to Local Market

Australia will require liquefied natural gas exporters to set aside a fifth of new production for the domestic market, as the government moves to curb prices and avert shortages on the populous east coast.

The new system will apply to prospective contracts and the spot market from July 1, 2027, Energy Minister Chris Bowen and Resources Minister Madeleine King said in Sydney on Thursday. It won’t apply to supply deals signed before Dec. 22 — when the government flagged a level of 15% to 25%.