
Road to net zero passes through Australia’s gas fields
Two weeks ago, The Australian Financial Review suggested that the first response to a critical gas domestic gas shortage should be to find more gas, rather than taking export gas away from Australia’s overseas customers and intensifying the global energy crisis. The Senex joint venture between South Korean steel maker Posco and Gina Rinehart’s Hancock Energy plans to spend $1 billion expanding its Surat Basin gas production in Queensland to take pressure off the big three Gladstone LNG exporters. When it’s allowed to work, the market can provide most things, from a fast COVID-19 vaccine to more essential fuels. This week suggested it could happen with energy too.