Continue to restrict the export of natural gas, Australia extend the guarantee mechanism for seven years

The Australian Competition and Consumer Council said on August 1 that the East Australian Coast may face a serious shortage of natural gas supply next year.On the same day, the Minister of Australia and Resource Management Madelein Kim announced that the domestic natural gas safety mechanism of Australia, which was originally expired next year, will be extended to 2030.

According to Reuters, the Australian Competition and Consumer Council urged the federal government to restrict the export of LNG, saying that the possible natural gas shortage will risk Australia's energy security.

Gold then announced the extension of Australia's domestic natural gas safety mechanism to 2030.She told media reporters that the government will also negotiate with major natural gas manufacturers to promote a new framework agreement.

The domestic natural gas safety mechanism in Australia was formulated by the previous government. It was originally scheduled to expire on January 1, 2023. It is required to restrict some exports to the East Coast liquefied natural gas suppliers for the domestic market.

Source: CCTV News Client

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