UPDATE 1-Australia no longer expects gas shortfall before 2030 [Reuters]
Royal Dutch Shell PLC Royal Dutch Shell PLC American Depositary Shares (Each representing two Class B Ordinary Shares) (RDS.B)
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Source: Reuters
UPDATE 1-Australia no longer expects gas shortfall before 2030 | Reuters Reuters Staff 4 Min Read * Gap closed by weaker demand forecast, stronger supply outlook * Wind, solar growth shrinks need for gas-fired power * But would-be LNG importers undeterred (Adds comment from prospective LNG importers) By Sonali Paul MELBOURNE, June 22 (Reuters) - Australia no longer faces a looming gas shortage, thanks to government pressure on exporters to divert the commodity into local markets and a reduced demand forecast for gas-fired power, according to estimates from the nation’s energy market operator. “No supply gaps are forecast before 2030 under expected market conditions,” the Australian Energy Market Operator (AEMO) said on Friday in its annual outlook for gas. That is starkly different from a year ago, when dire warnings from the body about potential shortfalls in eastern Australia from 2018 onward prompted the government to threaten to curb liquefied natural gas (LNG) exports. The nation
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