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Australia Gives up Restrictions on Natural Gas Exports
Australia Gives up Restrictions on Natural Gas Exports

The Wall Street Journal reported on September 27, the Australian government no longer restricts the export of liquefied natural gas. Before that, natural gas producers including royal Shell group of Holland, agree to put more natural gas into Australia's domestic market to ease the energy shortage.

The Australian government's decision was made after a meeting between Prime Minister Turnbull and energy company, which was only a few days before the warning issued by the regulatory authorities in 2018 that the shortage of natural gas could be two times more severe than before put forward. Experts have warned that restricting exports may hurt Australia's role as an investment destination, while at the same time, it has limited impact on the supply and price of natural gas in Australia.

Mr Turnbull said Energy companies had promised to meet the supply shortages estimated by the Australian Energy Market Operator, or AEMO. AEMO estimates that in 2018 Australia's energy shortfall will be as high as 107 joules (equivalent to about 5 million Australian households will need to generate electricity for electricity a year), up to 102 in 2019.

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