Australia warns gas companies they risk export restrictions
Australia’s prime minister warned energy companies on Thursday that they would be restricted from exporting gas if Australians are not also provided with adequate supplies at internationally competitive prices.
Prime Minister Malcolm Turnbull said it was unacceptable that Australia was about to overtake Qatar as the world’s biggest exporter of liquid natural gas yet domestic gas users face shortages and sky-rocketing prices.
Australia is entitled under its international trade agreements to protect local industry from gas shortages by preventing companies such as ExxonMobil, Shell, Santos and Origin from fulfilling export contracts from July 1, he said.
“If there is a shortage of gas for the domestic market forecast, then export controls will be imposed so that Australian families and Australian businesses and Australian jobs come first,” Turnbull told Australian Broadcasting Corp.
He said energy companies were selling Australian gas to Australian customers at prices four and five times higher than are charged in the Unites States. Australian prices should be more than halved, he said.