Australian upstream rejects politicians’ call for A$4 gas
Producers insist the costs of producing gas domestically—as well as prevailing spot prices—significantly exceed the historic benchmark price level
The Australian upstream industry is pushing back against the popular notion that currently depressed domestic natural gas prices are here to stay. While prices have collapsed over the past two years, the industry argues the days of cheap gas are gone and expectations that prices will not climb in line with the international market are unrealistic. The Australian Petroleum Production and Exploration Association (Appea) has pointed to an International Gas Union (IGU) survey of wholesale gas prices as showing that Australia’s average rates are among the lowest in the Asia-Pacific region. Majors ExxonMobil and Shell, meanwhile, have dismissed a recent recommendation to the government that gas pr
Also in this section
14 April 2026
The GECF has warned it may revise its projections for demand this year downwards in light of conflict in the Middle East, although it maintains its forecasts for 2027 and onwards
13 April 2026
Petroleum Economist analysis highlights sharp shift from crude oversupply to market deficit, with Iraq and Kuwait badly affected and key producers Saudi Arabia and the UAE also seeing output sharply lower
13 April 2026
Turkmenistan is moving ahead with a modest expansion of the giant Galkynysh field to sustain gas deliveries abroad, but persistent delays to other key pipeline projects and geopolitical risks continue to constrain its export ambitions
13 April 2026
Expensive electricity has forced out swathes of energy-intensive industry and now threatens the country’s ability to attract future investment in datacentres and the digital economy
