Australian Gas Markets
Australia's gas markets are changing rapidly.
The east coast gas markets are now interconnected and natural gas flows are more dynamic so gas can move across the network to where it is needed. The markets are also adjusting to emerging exposure to international gas prices as the export of gas from the east coast occurs for the first time.
Balancing supply and demand is critical to ensuring that Australian consumers and industry can access affordable gas when and where they need it.
The COAG Energy Council's (the Council) Australian Gas Market Vision underlies a number of initiatives to address supply and competition concerns, and to make it easier to buy and sell gas in Australia.
Increasing gas demand is putting pressure on both gas supply and prices, and impacts certainty for business and consumers in domestic markets.
The Council is working together to bring scientific and regulatory expertise to support the responsible development of onshore gas, offshore gas and underground gas storage.
Read more about the Council's efforts to implement its Gas Supply Strategy.
Gas Market Development
The Council has committed to a comprehensive Gas Market Reform Package in August 2016, to drive the achievement of its Australian Gas Market Vision for a liquid wholesale gas market where an efficient reference price provides signals for investment and new gas supply.
The reform package comprises four priority areas and 15 reform measures. The four priority areas are gas supply, market operation, gas transportation and market transparency.
The Council has established a dedicated Gas Market Reform Group to lead the implementation of gas market reforms.