Australia Extends Domestic Gas Security Deal Until 2030

Australia's new government will extend the so-called domestic gas security mechanism until 2030 in a bid to ensure adequate gas supplies for the domestic market. Argus reports that the mechanism, which was first introduced in 2017, was about to expire next year, but the Labor government that won the last elections would extend it even though it said the tool had some shortcomings. The mechanism gives the Australian government the right to divert LNG from three offshore projects in Eastern Australia from the foreign to the domestic market to make…