Excavators

Forecast shows investment is key

The latest forecast on gas supply shows that the sector’s investment in new and expanded infrastructure will pay off, APGA Chief Executive Officer Steve Davies said today.

In its annual forecast issued today, 2021 Gas Statement of Opportunities (GSOO), the Australian Energy Market Operator (AEMO) found that the outlook for gas supply had improved.

“This improvement will be brought about through investment by the gas sector and is an excellent indication of the competition and interest that exists for further investment,” Mr Davies said.

“As AEMO states, the reliance on gas pipelines and storages has been increasing as traditional sources of supply decline, and this trend is forecast to continue.

“Future gas supply is dependent on increased investment both in new infrastructure and on expansions of existing infrastructure and it is critical that government ensures the policy environment facilitates additional investment. In recent years we have seen an increase in government intervention in energy markets and this can be challenging for investors.

“A stable environment that recognises the risks and competition investors face when making long-term decisions will help the market deliver the next wave of investment to secure Australia’s gas supply for the coming decades."

Read more in the Forecast shows investment is key media release.