Shell opposes Australian government plan to mandate domestic supply from LNG producers
SHEL Shell Plc ADR
$101.59 +1.41%
View chart & analysis → - 1Shell has opposed the Australian government's plan to force LNG producers to reserve shipments for domestic use.
- 2Ceciluke Wake, Shell Australia Chair, said the plan is like using a hammer to solve a minor problem and is excessive market intervention.
- 3Shell stated that the regulation requiring LNG producers to supply 110% of East Coast demand will have a catastrophic impact on prices.
So what's the key point?
Shell is opposing a plan by the Australian government to require natural gas producers to sell a certain amount domestically. The company believes this regulation could cause major issues with gas prices.
Source Oilprice.com · View original ↗
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