Australia’s East coast facing a gas surplus?

Australia’s east coast gas market should have a 1.4 petajoule (PJ) (3,388 tonnes) surplus in the first quarter of 2024, according to The Australian Competition and Consumer Commission’s (ACCC) September 2023 interim gas inquiry report. The report shows that Australia’s east coast gas market should have a 1.4 petajoule (PJ) (3,388 tonnes) surplus in the first quarter of 2024, even if the LNG producers export all their uncontracted gas. The first quarter is a period of high LNG export demand and reduced residential gas heating demand due to warmer weather