Following the announcement of its East Coast gas reservation policy before Christmas, which plans to force Queensland LNG exporters to divert 15–25% of new supply into the domestic market, the Albanese government held its first formal consultation meeting on the proposed scheme.
According to a report in The Australian, the meeting provided participants with little information about how the scheme would operate in practice, except that “foundational” export contracts are sacrosanct and will be protected.
“Sources briefed on the meeting said officials did not present a settled compliance model, enforcement mechanism or final position on how long-term export contracts would be protected”, reported The Australian. “Instead, they canvassed a wide range of possible design features, leaving attendees unsure whether the government is pressing ahead with a firm blueprint, or is still shaping the architecture”.
