The Albanese government is not about to implement a national-interest East Coast gas reservation scheme. It is about to deliver what the LNG cartel itself campaigned for.
Cabinet has not signed off on the final details of the reservation scheme, but several senior government sources unauthorised to speak publicly said the government was preparing to announce a framework within weeks to keep more gas onshore amid an ongoing feud between the Coalition and Labor on how to manage the balance between emissions reduction and power prices.
An option under consideration, according to one source, is a form of permits for firms to export in either the long-term or spot markets, forcing them to keep a portion of gas onshore.
