Asian gas buyers push back on Australia's plan to keep more gas at home

A new law would make big gas exporters set aside up to 20 per cent for local buyers, and renewed contracts would not be protected.

Confirmed

Big Asian gas buyers are pushing back on a new Australian law. The Domestic Gas Reservation Bill 2026 went to federal Parliament on 14 October. It would make big gas exporters keep up to 20 per cent of their exports for Australian buyers from 1 January 2028. The aim is more gas, at better prices, for homes and businesses here. But contracts that are renewed or extended would not be protected under the bill. Korea Gas Corporation is angered, according to industry sources cited by the Sydney Morning Herald. It buys gas from Gladstone in Queensland under a deal that ends in 2031, with an option for five more years. Japanese company INPEX said in a submission that it had "significant concerns" about renewed deals being treated as new. Resources Minister Madeleine King told the Herald: "Any decision to extend an existing contract is a new commercial decision." A Senate committee is looking at the bill and is due to report on 11 November. Japan and Korea are two of Australia's biggest trading partners.