Gas suppliers across the east of Australia have agreed to make more gas available to Australians "as soon as possible", after crisis talks with the prime minister in Canberra.
"The producers have given us a guarantee to ensure that gas is available for the National Electricity Market," Malcolm Turnbull said.
Under the agreement gas marked for export will instead be sold to the domestic Australian market at a cheaper price.
"We have a responsibility, which we do not shirk from."
"We are focused on ensuring that all Australians have access to secure and affordable energy."
Two east coast LNG exporters - APLNG and QGCLNG - have committed to putting more gas back into the domestic market than what they export, by becoming "net domestic gas contributors".
"The domestic market needs to have adequate - in terms of volume - gas available. It needs to have the gas available and it needs to be at affordable prices.
he government will set up a gas industry commission that will be established under the umbrella of the Australian Competition Consumer Commission. - See more at: http://www.skynews.com.au/news/top-stories/2017/03/15/turnbull-to-turn-up-heat-on-gas-chiefs.html#sthash.fGDjMpZQ.dpuf
he government will set up a gas industry commission that will be established under the umbrella of the Australian Competition Consumer Commission. - See more at: http://www.skynews.com.au/news/top-stories/2017/03/15/turnbull-to-turn-up-heat-on-gas-chiefs.html#sthash.fGDjMpZQ.dpuf
"We have absolutely agreed - that we must continue the pressure on State and Territory governments to revisit the restrictions on gas development and exploration," the prime minister said.
"The producers have also agreed to make more gas available to the domestic market as soon as possible."
Under the umbrella of the Australian Competition Consumer Commission a gas industry commission will also be created.
'We are going to increase the transparency of the market, it's vitally important Australians know what happens to the gas market,' - See more at: http://www.skynews.com.au/news/top-stories/2017/03/15/turnbull-to-turn-up-heat-on-gas-chiefs.html#sthash.fGDjMpZQ.dpuf
"We are going to increase the transparency of the market, it's vitally important Australians know what happens to the gas market," Mr Turnbull said.
"We have a responsibility, which we do not shirk from, to ensure that there is adequate gas supplies for the Australian domestic market"
