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Santos is lying again, which is what it does best.
Under Albo’s gas reservation policy, companies wanting to export LNG would need to meet domestic supply obligations or risk penalties of up to $100 million, export restrictions, or fines worth three times any financial benefit gained from non-compliance.
Producers could meet obligations through several methods, including reducing exports, swapping gas with competitors, underwriting new supply projects, or importing LNG.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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