Australia Set to Include Existing LNG Deals in Gas Reservation Scheme

Australia plans to include existing LNG contracts in its so-called Domestic Gas Reservation scheme, expected to come into force in July 2027, to ensure local supply. The new Australian regulation, which is still a draft proposal subject to consultation from industry and other stakeholders, requires that local producers set aside 20% of their domestic production for the Australian gas market. Under the draft Design Framework, the Australian government published on Monday, the Government has been clear that existing contracts, entered into…