Australia Set to Include Existing LNG Deals in Gas Reservation Scheme

AI Summary

Australia plans to include existing LNG contracts in its Domestic Gas Reservation scheme starting July 2027 to allocate 20% of production for the local market, according to a draft framework under consultation.

Australia plans to include existing LNG contracts in its so-called Domestic Gas Reservation scheme, expected to come into force in July 2027, to ensure local supply. The new Australian regulation, which is still a draft proposal subject to consultation from industry and other stakeholders, requires that local producers set aside 20% of their domestic production for the Australian gas market.   Under the draft Design Framework, the Australian government published on Monday, the Government has been clear that existing contracts, entered into…