Australians on the east coast should never face a gas shortage again as Albo reforms the ADGSM. Here is the gist of proposed changes:
(1) The objective of the ADGSM is to ensure that there is a sufficient supply of natural gas to meet the forecast needs of Australian gas consumers by controlling, if necessary, LNG exports.
(2) The ADGSM applies Australia wide. In practice, the ADGSM: a. establishes a process for the Minister to determine whether there will be significantly insufficient supply of natural gas for Australian consumers in the forthcoming quarter (a domestic shortfall quarter); and b. prohibits exports of LNG during a domestic shortfall quarter, unless written
permission has been granted by the Minister or an authorised officer (a permission); and c. establishes a permission regime, whereby the Minister or an authorised officer may grant a permission to an LNG project.
(3) Division 6 of Part 3 of the Regulations came into effect from 1 July 2017 and will be automatically repealed on 1 January 2030.
Bravo. Except that it is Mad King that has the power and her record sucks.
