Commenting on news that the Turnbull government will not place curbs on LNG exports, Bruce Robertson, Gas/LNG Australasia analyst at IEEFA said:
“The so called gas ‘crisis’ in Australia is not about supply. It is about a business model engineered by four energy companies – BHP, Origin Energy, Santos and Shell – to restrict supply to Australians in order to force prices up.
Commenting on the Santos announcement that itexpects to recognise an impairment of GLNG of approximately US$870 million after tax, predominantly due to lower oil prices, Bruce Robertson, IEEFA Gas/LNG Australasia analyst said:
Responding to the construction of a new 622 km-long Northern Gas Pipeline owned by private business Jemena, Bruce Robertson, Gas/LNG Australasia analyst for the Institute for Energy Economics and Financial Analysis (IEEFA) said:
“Another privately owned pipeline in Australia will only fuel the gas price crisis, not lesson it as the majority of such pipelines are not subject to any pricing regulation and are hideously profitable.
Commenting on the increase in electricity prices by up to 20% on July 1, Bruce Robertson, Gas/LNG Australasia analyst for the Institute for Energy Economics and Financial Analysis said: “Australians need answers for why gas prices have fallen globally in recent years while here they have risen to levels above the north Asian market, the most expensive market for gas.