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From cartel HQ.
Foreign oil and gas giants that have invested in Queensland’s $80 billion LNG export sector could be saddled with individual obligations to supply local customers under the domestic gas reservation scheme proposed by the Albanese government.
The prospect of the likes of Korea Gas Corporation, China’s Sinopec and France’s TotalEnergies being forced to supply domestic gas has appalled the companies and has become a major point of contention as consultation ramps up about the gas reserve plan, according to industry sources.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.