Australia secures new gas deals for east coast energy markets

The Australian government said on Monday it had reached new gas supply deals for its east coast energy market, easing some concerns over long-term supply gaps as the country moves rapidly away from its dependence on coal-fired power stations. More than 260 petajoules (PJ) of gas will be supplied through 2033 in two new enforceable commitments with Exxon Mobil's Esso unit and Woodside under the government's gas code rules, Energy Minister Chris Bowen said. Australia last year extended a price cap of A$12 ($8) per gigajoule on natural gas until at least mid-2025, but it relaxed the rule for big producers if they agreed on domestic supply commitments for the country's east.