A review into the Australian Domestic Gas Security Mechanism (ADGSM) has found it has helped lower domestic gas prices while contributing to more secure gas supplies for Australian consumers.
“The review confirms the measures taken by the Government in 2017 have been instrumental in stabilising the domestic gas market and keeping a lid on gas prices,” federal Resources Minister Matt Canavan said on Friday. The Australian government introduced the ADGSM in 2017 to help guarantee domestic gas supplies with forecast shortages caused by growing exports and reduced production from gasfields offshore Victoria.