Gas is more than a reliable energy insurance policy, the industry insists, as executives prepare to ship the resource from coast to coast for homes and industry.
Shortages are looming, particularly in Australia's southern states, Origin Energy boss Frank Calabria told reporters at an industry conference in Perth.
O'Neill said she was willing to work with Viva Energy on a proposed LNG regasification terminal at the Geelong refinery.Credit: AFR
“If there's no more supply in those markets, you have two options: you have to transport gas from Queensland or you're going to have an import terminal,” he said.
LNG import terminals in NSW or Victoria could store and supply homes and industry, taking gas from Western Australia, Queensland or overseas markets, rather than sending it through eastern pipelines.
Woodside Energy boss Meg O'Neill said it was ready to work on a proposed LNG regasification terminal at the Geelong refinery to support the national electricity market's transition to low-carbon energy .
“Since we concluded the merger with BHP Petroleum, we now have a significant position in the East Coast gas market. We can see that it's a market that needs more gas,” he said.
But the idea of permanent price intervention by governments “is a surefire way to take the gas out of the system and make the problem worse,” he warned.
The Australian Energy Producers Conference and Exhibition will be held from 20 to 23 May at the Perth Convention and Exhibition Centre.
AAP
