Session 14. Oral Presentation for: Goldilocks dilemma: lower cost, more supply, reduced emissions, and reliable trading partner. What is the outlook for Australia getting the gas balance just right?
Matt Paull A *A
Matt Paull joined EnergyQuest in December 2022 and has over 25 years’ experience in government and the oil and gas industry. Matt has deep knowledge of the energy industry and worked for Australia’s peak body for oil and gas, the Australian Petroleum Production and Exploration Association, for over a decade where he led representation of Queensland’s A$80 billion oil and gas industry before government, media, and the broader community. Prior to working in the industry, Matt had a successful career with the Australian Government where he held senior positions in resources and energy policy development, investment facilitation, science and technology support, international relations, finance, and economic analysis. Matt has a Bachelor of Economics from the Australian National University and a Graduate Certificate in Finance and Investment from the Financial Services Institute of Australasia. |
Abstract
Presented on Wednesday 22 May: Session 14
Australia’s east and west coast domestic gas markets are physically and geographically separated. Each Australian gas market has followed a different trajectory, with the west being defined by large liquefied natural gas (LNG) projects, a relatively small domestic market, and a long-standing domestic gas reservation that historically ensured the domestic market was oversupplied and prices remained low. The east coast market instead relied for decades on supply from the Cooper and Gippsland basins which only supplied the domestic market, with both now in decline. The establishment of LNG export capacity in Queensland connected the east coast market to international markets for the first time and was followed by bans and moratoriums on gas development in some jurisdictions. Notwithstanding their very different history, both markets now face potential domestic supply shortages within a decade, and both have experienced government intervention in the past 12 months. Government’s stated aims are to lower prices, ensure ongoing investment in supply, reduce emissions, and continue LNG exports. This paper examines forecast supply and demand, the impact of government intervention, net zero policies and the importance of maintaining Australia’s export reputation as a reliable supplier. Getting this balance just right will require a challenging ‘Goldilocks moment’, with serious consequences if we get it wrong.
To access the Oral Presentation click the link on the right. To read the full paper click here
Keywords: domestic gas, domestic market, domestic supply, government intervention, government policy, government regulation, LNG exports, net zero, supply and demand.
Matt Paull joined EnergyQuest in December 2022 and has over 25 years’ experience in government and the oil and gas industry. Matt has deep knowledge of the energy industry and worked for Australia’s peak body for oil and gas, the Australian Petroleum Production and Exploration Association, for over a decade where he led representation of Queensland’s A$80 billion oil and gas industry before government, media, and the broader community. Prior to working in the industry, Matt had a successful career with the Australian Government where he held senior positions in resources and energy policy development, investment facilitation, science and technology support, international relations, finance, and economic analysis. Matt has a Bachelor of Economics from the Australian National University and a Graduate Certificate in Finance and Investment from the Financial Services Institute of Australasia. |
