Original article by Angela Macdonald-Smith, Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 4-Oct-17
The Federal Government has signed a heads of agreement with Origin Energy, Santo and Shell that will avoid the need for it to impose LNG export controls. The LNG producers have committed to supplying sufficient gas to the domestic market to meet expected shortfalls in 2018 and 2019. The agreement also makes provision for any gas that is surplus to their contractual requirements to be offered to the domestic market first. Meanwhile, speculation that Australia’s LNG exports will be curbed has prompted a sharp rise in spot prices in North Asia in recent weeks.
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, ORIGIN ENERGY LIMITED – ASX ORG, SANTOS LIMITED – ASX STO, SHELL COMPANY OF AUSTRALIA LIMITED, AUSTRALIAN PETROLEUM PRODUCTION AND EXPLORATION ASSOCIATION LIMITED, AUSTRALIAN LABOR PARTY, AUSTRALIA PACIFIC LNG LIMITED, GLADSTONE LNG PTY LTD, WOOD MACKENZIE, JP MORGAN AUSTRALIA LIMITED