Gas is more than an insurance policy for reliable power, the industry insists, as executives prepare to ship the resource from coast to coast for homes and industry.
Shortfalls are getting closer, particularly for Australia’s southern states, Origin Energy boss Frank Calabria told reporters at an industry conference in Perth.
O’Neill said she was keen to work with Viva Energy on a proposed LNG re-gasification terminal at the Geelong refinery.Credit: AFR
“If there’s no further supply into those markets, you’ve got two choices - you’ve got to transport gas from Queensland, or you’re going to have an import terminal,” he said.
LNG import terminals in NSW or Victoria could store and supply homes and industry - taking gas from Western Australia, Queensland or foreign markets - instead of sending it through eastern pipelines.
Woodside Energy boss Meg O’Neill said she was keen to work on a proposed LNG re-gasification terminal at the Geelong refinery to support the national electricity market’s transition to lower-carbon energy.
“Since we concluded the merger with BHP Petroleum we now have a significant position in the east coast gas market. We can see that is a market that needs more gas,” she said.
But the idea of permanent price intervention by governments “is a sure way to drive gas out of the system and make the problem worse,” she warned.
The Australian Energy Producers Conference and Exhibition is being held from May 20 to 23 at the Perth Convention and Exhibition Centre.
AAP
