Matthew Canavan (Queensland, Liberal National Party, Minister for Resources and Northern Australia) Share this | Hansard source

As I was discussing last week, we issued the draft regulations in regard to those measures we are taking. We are focused on solutions to this issue. These are solutions that are significant. They are significant changes to the way we regulate gas in this country. These regulations are intended to be temporary. The long term does need more gas supply to come onto the market, but we have put these measures in place in draft form for five years, with a sunset clause after five years and a review after two. They are targeted at the problem we are facing, which is a shortfall of gas, as was identified by the Australian Energy Market Operator.

The implementation of these guidelines and licensing will only be done with consultation with AEMO and the ACCC about the potential size of the shortfall. We will try to recover that shortfall from those producers who are not net contributors to our domestic market, targeting the issue we face and making sure that there is gas available to protect Australian jobs and make energy affordable for all Australians.