According to the company’s website news release on January 23, 2023, Shell’s QGC business is pleased to announce it is offering an Expression of Interest (EOI) for 8 petajoules (PJ) of gas for delivery in 2023.
This volume is in addition to the 20PJ of gas offered domestically since December 2022, at or below $12/GJ, of which over 13PJ has been contracted. The volumes have been offered either through hubs, bilaterally or via swaps that facilitate additional supply into the peak winter periods.
Typically, for the majority of the market, retailers and customers contract gas well in advance of the required supply period. However in light of the significant ongoing regulatory changes impacting the gas market, QGC believes it is important to offer additional gas for delivery in 2023 under an EOI at this time.
Based on current production forecasts, QGC anticipates additional supply will be available to offer to the market as the year progresses.
It is essential governments and regulators create a policy environment which encourages new supplies especially in close proximity to southern demand points. Squeezing gas from the north to the south is neither a sustainable nor an affordable way to supply customers in southern markets.
Shell will continue to engage constructively with government on the Australian Domestic Gas Security Mechanism and Code of Conduct consultation. The company needs to shift from the current patchwork of competing and inconsistent regulatory interventions with their unintended consequences, to solutions which will deliver long term energy security and prosperity for Australians.
