Federal Labor is urging the government to swiftly introduce a new gas reservation scheme aimed squarely at tackling record-high prices on the east coast. The party wants exporters to divert supplies into the domestic market immediately, rather than waiting for more elaborate credit trading systems to be put in place.
The Albanese administration has been reviewing the gas market for six months and is expected to unveil its plans next week. However, a lack of urgency among the government's preferred approach has left industry groups and unions calling for action.
Manufacturers are warning that if prices continue to soar, jobs will be lost as companies struggle to remain competitive. The Australian Workers' Union (AWU) has long campaigned for Labor to adopt a policy that would reserve gas for domestic use, rather than allowing it to be exported to international markets.
"We need affordable gas reserved for domestic use right now – not years down the track," said Paul Farrow, AWU national secretary. "To shore up Australian industry for the 21st century, we can't afford any further delays."
The government has been weighing two potential models for the reservation scheme: one that would require exporters to supply a prescribed amount of gas into the domestic market in exchange for export permits; and another that would mandate all gas producers – exporters and domestic-only producers – to supply a certain volume into the local market.
Industry insiders say the AWU's preferred model is more effective, as it directly targets the major LNG exporters responsible for "breaking the domestic market" through their exports. The union believes these producers have artificially inflated prices, leaving Australian households and businesses struggling.
The federal government remains committed to ensuring fair prices for gas, but its slow pace has left industry groups frustrated. Labor's Ed Husic is calling for more drastic measures, including stricter controls on importers that sell Australian gas to third countries.
"It's a real BBQ-stopper for many Australians that foreign buyers are on-selling our gas while we're facing forecasts of local gas shortages," he said.
The Greens are advocating a different approach, backing the AWU's push for a 25% levy on LNG exports. They believe this would be a more effective way to keep gas in the country and replace the Petroleum Resources Rent Tax (PRRT), which has been deemed inadequate by industry groups.
As the government continues to weigh its options, industry groups are urging swift action to address the growing crisis. With east coast gas prices having tripled over the past decade, the stakes are high.
The Albanese administration has been reviewing the gas market for six months and is expected to unveil its plans next week. However, a lack of urgency among the government's preferred approach has left industry groups and unions calling for action.
Manufacturers are warning that if prices continue to soar, jobs will be lost as companies struggle to remain competitive. The Australian Workers' Union (AWU) has long campaigned for Labor to adopt a policy that would reserve gas for domestic use, rather than allowing it to be exported to international markets.
"We need affordable gas reserved for domestic use right now – not years down the track," said Paul Farrow, AWU national secretary. "To shore up Australian industry for the 21st century, we can't afford any further delays."
The government has been weighing two potential models for the reservation scheme: one that would require exporters to supply a prescribed amount of gas into the domestic market in exchange for export permits; and another that would mandate all gas producers – exporters and domestic-only producers – to supply a certain volume into the local market.
Industry insiders say the AWU's preferred model is more effective, as it directly targets the major LNG exporters responsible for "breaking the domestic market" through their exports. The union believes these producers have artificially inflated prices, leaving Australian households and businesses struggling.
The federal government remains committed to ensuring fair prices for gas, but its slow pace has left industry groups frustrated. Labor's Ed Husic is calling for more drastic measures, including stricter controls on importers that sell Australian gas to third countries.
"It's a real BBQ-stopper for many Australians that foreign buyers are on-selling our gas while we're facing forecasts of local gas shortages," he said.
The Greens are advocating a different approach, backing the AWU's push for a 25% levy on LNG exports. They believe this would be a more effective way to keep gas in the country and replace the Petroleum Resources Rent Tax (PRRT), which has been deemed inadequate by industry groups.
As the government continues to weigh its options, industry groups are urging swift action to address the growing crisis. With east coast gas prices having tripled over the past decade, the stakes are high.
! i think labor is on the right track by pushing for a fast-track reservation scheme but they need to act ASAP 
. if we dont do something about this now, companies will keep closing down and people will lose their jobs 
. i mean, come on, australia cant be running out of gas just because some big corporations want to export it overseas 
. the awu is totally right that we need affordable gas for domestic use not years from now 
. its time for the government to step up and stop playing games with our energy crisis 
.
! I mean, record-high prices are not good news for anyone, especially Aussie households and businesses that can't afford it. The AWU's calling for action now, and I think they're spot on – we need a fair deal and some urgency here! Those exporters aren't helping by selling our gas to third countries while we're struggling to meet domestic demand 
. I'm keeping an eye on what the Greens have to say, a 25% levy on LNG exports might be worth considering 
and btw that awu fella paul farrow is straight fire 
just pls dont let them wait any longer we cant afford it 
. The government's slow pace is only making things worse, and I think it's time for them to take bold action 
. Those industry groups are right to be frustrated – we need a plan to keep gas prices under control, not just throw money at the problem like a Band-Aid solution 
. It's like, we get it, prices are high, but what's the point if our economy is going to collapse? We need some concrete solutions from the government ASAP 
. I just hope they can make a decision soon before more jobs get lost 
. Like, how much longer can we wait for the government to step up? Industry groups are right, the status quo isn't working. We need that gas reserved ASAP 
. The sooner they make a decision, the better for everyone 
! Need a scheme ASAP 
! Can't afford delays 
. AWU's got the right idea 
, need affordable gas for domestic use NOW 
! 
, it's like selling out 
! Labor & Greens r both gettin closer to solve 
. Need more urgency from the gov 
️!