Australian Bureau of Statistics or energy price reports

Australia's Future Gas Strategy Boosts LNG Amid Paris Agreement Concerns

May 9, 2024, 04:10 AM

Australia's Labor government has announced its Future Gas Strategy to enhance natural gas development, aiming to maintain its status as a major LNG exporter and keep fuel prices affordable. This initiative is part of the government's broader commitment to achieving net zero carbon emissions by 2050, despite concerns that it may compromise Australia's commitments under the Paris Agreement. Critics argue the plan prioritizes gas companies over environmental concerns. The government defends its strategy by emphasizing the ongoing demand from key Asian trade partners and the necessity of gas to the country's energy strategy beyond 2050.