December 9, 2022

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Australia’s LNG exporters have a no-win domestic dilemma: Russell

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LAUNCESTON — Australia’s liquefied natural gas exporters have a problem at home, where industrial and domestic consumers are making strident demands for them to accept a price cap, higher taxes, guaranteed volumes or some combination of all of these.

The LNG industry argues that all of those of measures would result in lower investment and lower natural gas production over time, which would ultimately lead to higher prices.

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There is merit on both sides of the argument.

But the problem for Australia’s natural gas producers and LNG exporters is that politically their case is a hard sell, and they could risk getting a reputation for profiteering unless some way is found to take the burden off consumers.

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Australia vies with Qatar and the United States as the world’s biggest LNG exporter, having boosted its export capacity over the past decade mainly by building three export terminals on the east coast, which use coal-seam gas as a feedstock.

Reuters

2022-11-22 00:24:34

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