Australian industry reliant on gas for ‘foreseeable future’, resources minister tells press club

Madeleine King, Australia's Resources Minister, stated that the country's industry will remain dependent on gas for the “foreseeable future.” She emphasized that the upcoming national gas reservation scheme is expected to lower power prices for consumers.

The national gas reservation scheme is set to take effect in January 2028. This initiative will require gas companies to allocate 20% of their exports for domestic use. Additionally, it will empower the Australian Energy Regulator to enforce a target of 110% of projected demand each year. The scheme will also limit ministerial discretion and replace the previous Turnbull-era domestic gas security mechanism.