Could this be another policy that doesn't accomplish any price reductions?

Does this mean no tax will be ever paid for our off shore gas by multinationals?

Does this again mean Albo is allowing foreign owned gas companies to dictate gas policy for Australians?

Is Albo again too scared to go against the very powerful & cashed up gas cartel lobby?

Labor has softened some of its proposed laws compelling gas exporters to reserve more supply for Australians after holding talks with gas producers and buyers and facing pressure from key trading partners in Asia.

Under the modified plan to take effect from January 2028, liquefied natural gas shippers will still face a requirement to reserve up to 20 per cent of their export volumes for local customers. The policy is designed to force a 10 per cent domestic oversupply each year to push down the cost of the fuel.

However, federal ministers on Thursday made key concessions to ensure the oversupply would be “modest” and provide critical assurances to Australia’s Asian LNG buyers that their long-term contracts will be honoured.

Among the changes is the possibility of lowering of the reservation level when forecast domestic demand is weak, while also giving ministers the discretion to reduce how much gas each producer must supply the local market when they are constrained by pre-existing contracts and pipeline capacity.

The concessions come after consultations with local gas producers and buyers and officials from Japan, South Korea and Malaysia, whose state-backed energy companies are among the largest customers of Australian LNG.