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Manufacturers seek ‘urgent intervention’ to rein in gas giants – Sydney Morning Herald

Australia’s large gas producers are charging local customers far higher prices than overseas buyers, fuelling demands for urgent market intervention.

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Global coronavirus travel restrictions slashed energy prices, but Australian gas users have voiced frustration that gas giants have not dropped their long-term contract prices. They want them closer to spot prices of less than $5 a gigajoule in the south-eastern states, or liquefied natural gas (LNG) cargo spot prices of less than $2.50 per million British thermal units. More than 95 per cent of domestic gas sold on the east coast is sold under long-term contracts.
Gas producers, however, insis…

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