Gina Cass-Gottlieb has told Australia’s big gas producers to get on with the job of signing domestic contracts and filling a projected shortfall in 2023.
and insisted there was no shortage of gas, Ms Cass-Gottlieb said the projection was based on data supplied by gas producers themselves, and reminded the producers that 99 per cent of uncontracted gas was exported to international markets last year.
Wood Mallesons, Ms Cass-Gottlieb said she was hopeful that the ACCC’s latest report could spark a similar response to its first report into the east coast gas market in 2017. That report forecast a major shortfall and sparked a flurry of deals that resulted in the supply gap being filled before the start of 2018.
“That is problematic in terms of enabling the competition that could otherwise apply. So we are hoping to see a change in behaviour in that regard.”, said her big surprise since joining the ACCC had been the scale of the agency’s work, which covers everything from examining mergers and overseeing levels of competition to regulating prices in certain industries and protecting consumer safety.
She said the ACCC has seen an increase in merger activity despite signs the economy was softening, and there was an uptick in parties asking for their parlous financial circumstances to be taken into account.despite significant competition concerns after finding Ovato was likely to collapse had the deal not proceeded.
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