Australia’s $65 billion of projects to export liquefied natural gas from the east coast are set to push up domestic prices, opening the way for record investment at home in competing energy sources to produce power.
Prices are forecast to double this decade closer to levels customers in Asia will pay for Australian LNG after companies including BG Group (BG/) Plc and Santos Ltd. open terminals to ship gas that could have been supplied to the local market. That will help drive the A$33 billion ($34 billion) of wind- and solar- power projects developers plan to build through 2020 in Australia, according to data compiled by Bloomberg.
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