The Australian government is initiating a comprehensive Gas Market Review in collaboration with the Department of Climate Change, Energy, the Environment and Water (DCCEEW). This review aims to assess key components of the gas sector, including the Australian Domestic Gas Security Mechanism (AGDSM), the Gas Market Code, and Heads of Agreement (HoA) with liquefied natural gas (LNG) exporters on the east coast.
The focus of the review is to identify opportunities for improving and streamlining these fundamental frameworks to ensure the availability of affordable gas for the future. This initiative is part of the broader Future Gas Strategy, which envisions gas working alongside renewable energy sources, batteries, and pumped hydro systems to secure Australia’s energy landscape.
The review will systematically evaluate the effectiveness of existing policies and regulations, assess whether current interventions are still relevant, and explore possibilities for consolidating the regulatory framework. The government is actively encouraging feedback from industry players, stakeholders, and any parties interested in the gas market to ensure a comprehensive understanding of the current landscape.
Once completed, the review report will be presented to the Minister for Climate Change and Energy, as well as the Minister for Resources, who will consider the recommendations and outline the subsequent steps. For the time being, existing regulations will stay in effect while this analysis is conducted. There may be further consultations regarding any significant proposed changes to ensure all voices and concerns are heard.
This initiative reflects a positive step towards enhancing Australia’s gas market, promoting a balanced energy approach that supports economic growth and sustainability. By proactively addressing regulatory challenges, the government strives to foster an environment where both gas and renewable energy can thrive in the future.