Australia has issued new offshore gas exploration permits to address a potential gas supply shortage as the country transitions from coal to renewable energy.
The Australia n government has issued new offshore gas exploration permits for the country’s east and west coasts to tackle a looming supply shortage, Reuters has reported, noting Australia ’s accelerated shift away from coal in power generation.
Australia is one of the largest exporters of liquefied natural gas, which several years ago led to a shortage of gas on the domestic market since most of the available gas was committed to foreign clients under long-term contracts. At the time, the government instituted a requirement for energy companies to set aside a certain amount of gas for the domestic market.
Gas Exploration Offshore Permits Energy Supply Coal Phase-Out Renewable Energy Gas Shortage Exxon Chevron Domestic Market
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