Gas exporters must reserve up to 20% for Australian homes under new law
Large Australian gas exporters must reserve up to 20 per cent of exports for domestic customers from January 2028.
The Albanese government is forcing large Australian gas exporters to hold back up to 20 per cent of annual export volumes for domestic use from January 2028. Resources Minister Madeleine King is bringing the bill to parliament this week.
The policy aims to add about 10 per cent more gas supply than Australia needs. The extra supply could ease prices that have surged threefold in a decade.
Victoria and NSW could face gas supplies running dangerously low by the end of the decade. Production from ageing fields in Bass Strait is declining rapidly.
Gas-intensive manufacturers back the plan, hoping cheaper gas will keep more factories open. Western Australia already requires its LNG exporters to keep 15 per cent for home use.
The major terminals on Curtis Island in Queensland, run by Shell, Origin Energy and Santos, will be most affected.
- Up to 20 per cent
- Reserve requirement
- January 2028
- Implementation date
- About 10 per cent more than needed
- Domestic oversupply target
- Threefold increase
- Price growth over decade
Why it mattersThis aims to ease energy costs for homes and factories, but some warn it might reduce investment in new gas projects.
AustraliaAustralians may see lower gas prices for heating, cooking and electricity; manufacturing could become more cost-competitive.
✓ Claims checked against the source and corrected before publish. checked 2 h ago
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