Australian Prime Minister (PM) Scott Morrison wants to create a transparent domestic natural gas hub along the east coast similar to Henry Hub in order to lower gas prices in the region and spur an economic recovery from the Covid-19 pandemic.

The idea was among a number of measures that Morrison proposed earlier this month to reform the Australian east coast market. Another proposal was reaching new agreements with LNG export projects in the northeastern part of the country to provide cheaper domestic supply, as current preliminary agreements are set to expire this year. Morrison said his administration would work with the Australian Competition and Consumer Commission (ACCC) to review the LNG netback price under which export projects sell domestic gas.

Also under consideration...