AFP, Sydney :
Major gas producers in Australia agreed Wednesday to boost domestic supplies to help arrest a looming power crisis after the government threatened to slap them with export restrictions.
Australia is expected to overtake Qatar as the world’s largest liquid natural gas producer by 2020 — with Japan, China and South Korea key buyers.
But a focus on exports has left it short of local supplies, with Canberra warning of increased power prices and more blackouts in 2018.
Prime Minister Malcolm Turnbull has this year repeatedly said he would cap overseas shipments if firms did not prioritise the domestic market.
And after a meeting Wednesday with Santos, Shell and Origin Energy, Turnbull said he had won a commitment from them to top up local supplies.
Major gas producers in Australia agreed Wednesday to boost domestic supplies to help arrest a looming power crisis after the government threatened to slap them with export restrictions.
Australia is expected to overtake Qatar as the world’s largest liquid natural gas producer by 2020 — with Japan, China and South Korea key buyers.
But a focus on exports has left it short of local supplies, with Canberra warning of increased power prices and more blackouts in 2018.
Prime Minister Malcolm Turnbull has this year repeatedly said he would cap overseas shipments if firms did not prioritise the domestic market.
And after a meeting Wednesday with Santos, Shell and Origin Energy, Turnbull said he had won a commitment from them to top up local supplies.
