One of Curtis Island's LNG facilities.
One of Curtis Island's LNG facilities. Santos

Spotlight on Curtis Island LNG plants as crisis meeting called

THE leaders in Australia's gas market will meet with the Prime Minister to avert the looming gas shortage many experts have warned.

At the Australian Financial Review Business Summit yesterday Malcolm Turnbull confirmed he had called a crisis meeting.

>> Gladstone LNG 'oversold' in locked-in contracts, shortage looms

His comments followed a report from the Australian Energy Market Operator that found Australia could experience gas and electricity shortage in the next few years.

It's believed Mr Turnbull has called on Australia's big gas producers to be involved in the meeting.

"Our energy is among the most expensive in the world," he said, adding prices for families had doubled in the past decade.

"The competitiveness of Australia's energy ... businesses has been underpinned by their energy advantage, but that is no longer the case."

Some analysts have said LNG plants, such as GLNG and QCLNG, on Curtis Island have contributed to the crisis by using more third party domestic gas than forecast.

Oil and gas group APPEA say the looming shortage is the consequence of differing state government policies.



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