Print Edition - 2017-06-21  |  Money Digest

Australia to ban gas exports


Jun 21, 2017-

Australia’s government will restrict gas exports from next year in an effort to contain soaring energy prices in the domestic market, the prime minister said Tuesday. Australia is about to overtake Qatar as the world’s largest exporter of liquefied natural gas. But most Australians face escalating power bills because state governments have restricted further gas exploration and no new coal-fired power stations are being built to replace aging generators that will soon be decommissioned. Prime Minister Malcolm Turnbull said the government would not tolerate customers in Japan paying less for Australian gas than some Australian businesses were charged. “Our first duty is to protect our people, our businesses, our households,” Turnbull told reporters. “You can’t seriously suggest that we—a nation that is about to become the largest exporter of LNG in the world—would have a shortage of gas in its east coast domestic market. We clearly have to address that.” 

Published: 21-06-2017 08:30

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