11 May 2017
The Government has announced a number of measures which are likely to have significant ramifications for participants in the east coast gas market. On 19 April 2017 the Treasurer directed the Australian Competition and Consumer Commission ("ACCC") to hold a new inquiry ("2017 Inquiry") to improve transparency and monitor gas supply in Australia. On 27 April 2017 the Government announced that it would introduce a new Australian Domestic Gas Security Mechanism ("ADGSM") that would give the Government the power to impose export controls on companies when there was a shortfall of gas supply in the domestic market. These measures may result in a period of uncertainty for participants in the east coast gas market, particularly those who are heavily reliant on export activities as part of their business operations.