Part 4/6:
In reaction to these challenges, Australia's first LNG import terminal was completed in Port Kembla, New South Wales. Expected to support the energy transition away from aging coal power stations, this terminal is designed to meet the peak gas demands of New South Wales and even half of Victoria's requirements on high-demand days. However, the gas procured will be sourced from international markets, raising concerns about the sustainability of pricing and supply.
Analysts remain divided regarding future price trends but suggest that Australian prices are likely to escalate. For instance, recent estimates predict a rise in European gas prices that could translate into even higher rates for Australian consumers.