In 2013, Labor Resources Minister Gary Gray made the fateful decision to allow the Gladstone liquified natural gas (LNG) terminals to be built without the requirement to reserve gas for domestic users:
“Let me say very clearly, a reservation policy could not lead to lower gas prices or more gas,” Gray said.
“Calls for intervention in the market only serve to dampen any appetite for the very investment that’s needed to bring on new gas supplies,” he said.
