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Australia facing an eastern states gas shortage as supplies dwindle [Yahoo! Finance]
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The shortfalls could appear in 2027, a year earlier than previously expected, said the country's competition watchdog. The body said the latest assessment does not cover the supply squeeze that caused market players to issue a recent warming about possible coming shortfalls, as production issues continued and the nation undergoes a bout of cold weather. Australia exports the majority of its natural gas, with the commodity proving to be a valuable source of income as it develops its extraction and production facilities. Australia still ranks among the largest exporters of liquefied natural gas, even after losing the top spot to the US and Qatar in recent years. In fact, Australia is now the world's fifth-largest producer of natural gas , although the country's output decreased by 5% in 2023 compared with 2022, according to research from GlobalData, Offshore Technology 's parent company. The country accounts for around 3% of global production. In May 2024, the Australian Go
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