Australia’s gas industry under fire
The energy crisis on the country’s east coast is fuelling calls for resource nationalism
Spiralling energy prices in eastern Australia have prompted criticism of the gas industry. But analysts suggest the sector is not at fault and are warning against the calls for windfall taxes and for LNG shipments to be diverted for domestic use. The spike in energy prices has been driven by “coal outages, relatively low levels of renewable power generation due to the weather and global market pressures arising from the Russian invasion of Ukraine”, according to upstream trade body the Australian Petroleum Production & Exploration Association (Appea). The association also emphasised that “the majority of manufacturers” take gas under long-term contracts, and so are shielded from the curr
![](/images/white-fade.png)
Also in this section
26 July 2024
Oil majors play it safe amid unfavourable terms in latest oil and gas licensing bid rounds allowing Chinese low-ball moves
25 July 2024
Despite huge efforts by India’s government to accelerate crude production, India’s dependency shows no sign of easing
24 July 2024
Diesel and jet fuel supplies face a timebomb in just four years, and even gasoline may not be immune
23 July 2024
Rosneft’s Arctic megaproject is happening despite sanctions, a lack of foreign investment and OPEC+ restrictions. But it will take a long time for its colossal potential to be realised