LNG cargoes can be secured in Asia for April delivery at about $13Gj netback today. In Europe, you can buy a cargo for about $11Gj netback.
In Australia, it costs you $12Gj!
This suicidal energy monstrosity is bought to you by the Australian gas cartel of Santos, Woodside, Origin, Shell, Exxon and friends who over-ship gas to China to ensure the local price is always high.
China often on-sells the gas to Europe at a healthy profit, where it is still cheaper than in Australia!
Because gas sets the marginal cost of electricity in Australia, this means the wholesale power price is also too high:
Worse, futures markets are still pricing a doubling of power cost over the next few years because there is no cheap gas to replace retiring coal power:
Stupid and/or corrupt, I leave to you.
