Gas shortage over: AEMO

The Australian Energy Market Operator’s (AEMO) 2018 Gas Statement of Opportunities (GSOO) Report shows things are looking up for the east coast market.

The big news coming out of the report highlights that no supply gaps are forecast before 2030 under expected market conditions.

The risks of shortfalls previously projected for 2019 has been reduced due to changes in the energy market, including:

  • Minor reductions (less than 1 per cent) in east coast Australian LNG demand estimates provided by the producers, resulting in greater availability of Queensland CSG for domestic customers. This provides the domestic market with 8 PJ more gas in 2019 than previously expected
  • The Northern Gas Pipeline helping further increase supply available to eastern and southeastern gas markets
  • Increased commitments to develop alternative electricity generation sources reducing the need for high volumes of gas-powered generation of electricity in the National Electricity Market (NEM)
  • The introduction of the Australian Domestic Gas Security Mechanism, resutling in a HoA between the Federal GOvernment and LNG producers for domestic gas supply commitments, and a mechanism to restrict exports if required.

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