Australian energy policy is a national disgrace

The idiocy of Australia’s energy policy is on full display once again, with the Victorian government reportedly looking to approve a floating LNG terminal in the middle of Port Phillip Bay amid the decline in Bass Strait gas:

“Royal Vopak, an international energy terminal developer, told The Australian Financial Review it had been in discussions with key Victorian ministers and agencies since 2019”, reported Patrick Durkin.

“Vopak’s terminal would be 19 kilometres offshore from Avalon and would enable international liquefied gas carriers to use a floating storage regasification unit to enable imported gas to flow directly into the current pipeline system without any dredging of Port Phillip Bay”.

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.