The Australian competition regulator on Monday said the country’s east coast gas market could have sufficient supply to meet forecast demand in 2023.

This could be possible if LNG producers committed to supplying at least an additional 3 petajoules of gas to the domestic market this year, over and above the already contracted levels, the regulator said.

“The available data shows that the outlook for the east coast gas market has improved and the market is not expected to face a material shortfall in 2023,” ACCC Chair Gina Cass-Gottlieb said in a statement.
Source: Reuters (Reporting by Sameer Manekar in Bengaluru; Editing by Janane Venkatraman)