CANBERRA, May 15 (Bernama-Xinhua) -- Australia will not impose emergency gas export controls for the third quarter (Q3) of 2026 following confirmation that the country's east coast market has sufficient gas supplies, Minister for Resources Madeleine King said on Friday, reported Xinhua.
Further action under the Australian Domestic Gas Security Mechanism (ADGSM) will not be necessary for Q3 2026, as exporters have assured the government they will supply enough gas to meet demand for the quarter, King said in a statement.
The decision follows earlier warnings from the Australian Competition and Consumer Commission of a potential shortfall on the east coast, prompting the government in April to consider activating the ADGSM, the statement said.
Updated advice from regulators and industry, along with commitments from exporters, indicated supply would be sufficient, King said, adding that gas storage levels are also near full capacity.
The government added that it would take further action if conditions changed.
The government is also advancing a domestic gas reservation scheme requiring gas exporters to divert 20 per cent of production to the Australian market from July 2027, aiming to ease prices, reduce exposure to global volatility and strengthen energy security.
Meanwhile, Australia has secured three new shipments of diesel worth about 150 million litres, or 900,000 barrels, to help ease fuel supply pressures in the states of South Australia, Tasmania, Queensland and Victoria, the government said in another statement.
Diesel shipments have already averaged around 600 million litres, with about 100 million litres of jet fuel also secured so far, it said, adding the government expects more shipments in the coming days and weeks.
--BERNAMA-XINHUA
