
Make or break gas code poised for release as Australian east coast faces shortfall
Federal Energy Minister Chris Bowen will release the full text of the mandatory code of conduct governing the country’s gas industry within days, a document that will go a long way to determining whether several new developments materialise. Australia’s east coast gas market is facing a material shortfall in the next few years as traditional supplies run dry and proposed new developments struggle to secure regulatory and social licences. Senex Energy, owned by South Korea’s Posco and Gina Rinehart’s Hancock Prospecting, earlier this year suspended its proposed $1bn Atlas project in Queensland, while Cooper Energy has delayed a go-ahead to expand its Otway gas project off Victoria.