On November 8, 2012, the Australian government announced a key component of its future energy policy, "The Energy White Paper - Australia's Energy Transformation". An important feature of the 2012 Energy White Paper is the rejection of government intervention in the country's natural gas market. Earlier, domestic consumer and industry groups had asked the country's government to reserve some natural gas for domestic use. The premise of the groups is that Australia has abundant natural gas resources and some of these resources should be used for the country's benefit. The groups feared that exports of natural gas as Liquefied Natural Gas (LNG) from the country would lead to an increase in the prices of the domestic gas and affect both the consumers and domestic industry. However the Australian government contended that it has no role in the regulation of the natural gas prices and will not reserve any natural gas for domestic use. The government said that such action would impede the development of new natural gas resources, decrease returns to the Australian economy, and hinder the growth of efficient domestic natural gas markets.
- The report highlights that Australia's 2012 Energy White Paper will ensure unrestricted LNG exports from the country.
- It focuses on Australia government's decision to rejects calls for reservation of natural gas for domestic use.
- Geographic Scope- Australia
Reasons to buy
- To understand the potential impact of Australia's 2012 Energy White Paper on LNG exports from the country.
- To be aware of the rationales behind Australia's domestic consumers' and industry groups' demand for reservation of natural gas for domestic use.
- To understand the rationales behind Australian government's decision to reject calls for reservation of natural gas for domestic use.