‘Historic’ gas reservation policy to force major producers to set aside up to a quarter for Australian use

Chris Bowen announces long-awaited policy aimed at lowering energy prices on Australia’s east coastFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastThe country’s three major LNG companies will be forced to set aside as much as a quarter of their gas for domestic use, as part of the government’s long-awaited gas reservation policy aimed at lowering prices on Australia’s east coast.Chris Bowen, the climate change and energy minister, in Canberra said the “historic” export permit scheme would only apply from 2027, but would need to be reflected in any new contracts made by the gas companies between now and then. Continue reading…