Australian upstream rejects politicians’ call for A$4 gas
Producers insist the costs of producing gas domestically—as well as prevailing spot prices—significantly exceed the historic benchmark price level
The Australian upstream industry is pushing back against the popular notion that currently depressed domestic natural gas prices are here to stay. While prices have collapsed over the past two years, the industry argues the days of cheap gas are gone and expectations that prices will not climb in line with the international market are unrealistic. The Australian Petroleum Production and Exploration Association (Appea) has pointed to an International Gas Union (IGU) survey of wholesale gas prices as showing that Australia’s average rates are among the lowest in the Asia-Pacific region. Majors ExxonMobil and Shell, meanwhile, have dismissed a recent recommendation to the government that gas pr
Also in this section
24 April 2026
The European Commission’s response to the Middle East crisis is to double down on its transition strategy, with plans for a new target on electrification
24 April 2026
A major new discovery by Eni and BP that can likely be fast-tracked to production is welcome news for Egypt as it scrambles to plug a widening supply gap and deal with rising import risks
24 April 2026
Countries in the region are turning to the cleaner-burning fuel for power generation, driving demand for imports
24 April 2026
The US has used booming shale production to massively expand its LNG infrastructure, but Canadian developments have not fare so well while in South America consumption outstrips production
