Australia Forecasts Natural Gas Surplus for East Coast

The east coast of Australia will swing into a natural gas surplus later this year even if all LNG producers in the area export all the gas they have no long-term contracts for. This is according to the Australian Competition and Consumer Commission, which noted this was the first time it expects a gas surplus for the eastern states. Despite being a major LNG exporter, Australia has faced gas supply issues on its east coast, and in 2022, it introduced a price cap on natural gas for the domestic market. The cap was intended to mitigate the effects…