Rolling Gas Numbers to Keep Sun Rising & Shining in the East

Abstract

What we do know from the numbers is that gas in the ground, particularly from Queensland, is not a major issue. On the flipside, the ongoing decline of conventional gas resources in Victoria is well known. Nonetheless, subject to timely capital investment, Victoria’s decline can be stabilized, particularly as we have actually seen year-to-date growth in Victorian gas supply compared to 2021 of roughly 13%. This reflects the efforts of operators to reinvest in the Otway Basin and the impact of ExxonMobil’s recent West Barracouta development.