HIP-POCKET PAIN: Queensland's liquefied natural gas industry is starting to gear up, with three LNG plants to be built on Curtis Island (above) off Gladstone and gas prices tipped to soar. Picture: Bloomberg Source: Bloomberg
GAS prices in Queensland could soar as the state's liquefied natural gas industry gears up, putting further upward pressure on electricity prices as gas takes a bigger share of power generation.
Queensland's annual Gas Market Review, released yesterday, suggests that if the LNG industry reaches its hoped-for potential, lifting demand for gas for export, wholesale prices for new gas contracts in Queensland could rise from about $5 a gigajoule at present to about $8.50 a gigajoule by 2017.
That compares with gas contracts already in place in Queensland that are generally below the $5 level, and some well below it. Read More
Courier Mail
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