Consultant signals gas shortfall
AUSTRALIA’S east coast is facing a potential gas shortfall of 155 petajoules by 2019, consultant EnergyQuest says.
EnergyQuest says supply assumptions made by the energy forecaster the Australian Energy Market Operator (AEMO) paint an “unrealistically optimistic” picture of gas supply for domestic use.
Chief executive Graeme Bethune said AEMO’s estimates for demand in Queensland appeared to be too low and its estimates for Cooper Basin output were too high.
“A significant short-term supply gap has re-emerged, which increases to over 200 petajoules per annum early next decade,” Dr Bethune said.
AEMO’s conclusions would deter further east coast gas development in NSW and onshore Victoria, he said.
Low oil prices are dissuading exploration and expenditure by energy companies.