This is the twelfth interim report of the Australian Competition and Consumer Commission’s (ACCC) inquiry into gas supply arrangements in Australia. The ACCC has continued its focus on the operation of the East Coast Gas Market, where there are immediate and longer-term concerns.
February 2022 update
The short and long term supply outlooks in the January 2022 interim report were based on
information obtained from producers in August 2021. After the report was finalised, the ACCC was provided with revised production forecasts for the 2022 to 2033 period. The revised forecasts are not reflected in the report but the impact of them is that:
- the southern states may have an 11 PJ surplus in 2022, rather than a 10 PJ shortfall as stated in the report
- if there is a surplus in the southern states this year it may continue into 2023, rather than a shortfall continuing
- the size of the reported shortfalls in the southern states from 2024 to 2030 (inclusive) may be lower, although they are projected to continue
- the reported east coast-wide shortfall in 2026 may now occur in 2027.