East coast gas buyers have turned down the opportunity to secure supply at a fraction of the rates global prices have surged to since the outbreak of war in the Middle East, deterred by a combination of weak demand and policy uncertainty.
Origin Energy’s Australia Pacific LNG venture, the biggest of Queensland’s three LNG exporters, on Friday invited interest in 6.72 petajoules of gas from its coal seam gas operations, capped at $12 a gigajoule, after getting no interest when it offered the gas last month. The deadline for bids is now March 19.
