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About Gas Industry
Australian proven gas reserves are estimated at 1,443 billion cubic metres or 1% of the world's total. The largest reserves are on the North West Shelf of Australia. Australia is about the 16th largest producer of natural gas in the world with about 1.3% of the world's total. Most of this gas is liquefied and exported. Australia is the thrid largest liquefied natural gas (LNG) producer in the Asia Pacific region and the fifth largest LNG producer in the world, exporting approximately 7.9 million tonnes per annum (mtpa), mainly to Japanese customers under long-term contracts. (Australian Institute of Energy)
Victorian Gas Industry
The Victorian gas market has evolved from a state-based industry to being part of a competitive and nationally regulated energy industry.
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1996
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One supplier; One buyer; One jurisdiction; Non-meshed network, no interconnectors; No market, long term contracts only
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Today |
Six supplers; Three major buyers (retailers); Multiple wholesale traders and buyers; Multiple retailers; National regulatory structure; Multiple inter-region interconnectors and active underground gas storages; State wholeslae spot market plus long-term physical supply contracts; National short-term trading market (multiple hubs) under development
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Source: VENCorp, Vision 2030 Update 2009, Department of Primary Industries 2009