Santos is widely regarded as a major contributor to the East Coast Australian gas shortage.
About a decade ago, Santos expanded its gas export facility at Curtis Island, signing long-term contracts with Asian buyers. However, the anticipated gas reserves weren’t sufficient, so Santos began buying up local gas and diverting gas meant for domestic use to fulfill export obligations.
This shift led to a squeeze in domestic availability. Over the past decade, the East Coast has doubled its gas production volume, yet it has supplied 25% less to the domestic market.
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