AEMO forecast of the gas supply shortage until 2024
April 13, 2020
Recent forecasts of gas producers in Australia have led to decreasing the supply and ending the production in existing gas fields between mid- 2023 to mid-2024.
According to the Australian Energy Market Operator (AEMO) reports, existing gas developments on Australia’s east and south-east coasts can only provide the demands until the end of 2023 which is resulted by the producers’ decision to decrease the gas supply.
Regarding to AEMO report this supply deficiency can be rectified by the excess Liquefied Natural Gas (LNG). As stated by AEMO managing director and chief, they expect the supply from existing developments to reduce more than 35% over the next five years.
They have presented many options such as development of new LNG import terminals, pipeline expansions or new supply by lifting the gas exploration bans from July 2021 to overcome the shortfall problems during peak days. It should be considered that all these forecasts can be changed by long-term changes in industrial activities, changes to the global LNG market or ongoing effects of covid-19.
