Gas Giants Clash Over Australia's Energy Policy

Amid Australia's upcoming general election, energy has become a focal issue. The opposition coalition's proposal for directing more export gas to the domestic market is met with resistance from global gas companies, who argue it deters investment. Executives from Shell, ExxonMobil, and Chevron advocate for less intervention, fearing long-term implications.

In the lead-up to Australia's May 3 general election, energy policy takes center stage. The opposition coalition's push to redirect more export gas to the domestic market, aimed at reducing power bills, faces criticism from major gas companies.

Executives from Shell, ExxonMobil, and Chevron are opposing the proposal, arguing that government intervention, such as export controls and price caps, threatens investment and exacerbates supply challenges. These gas industry leaders emphasize expanding production instead of imposing regulatory restrictions.

As regulatory risks overshadow traditional market risks, the debate highlights the tension between ensuring energy security and fostering an investment-friendly climate. This dynamic underscores the complexities of balancing domestic supply with international commitments.

(With inputs from agencies.)