On 5 August, the Australian Competition and Consumer Commission (ACCC) reauthorised three gas producers to coordinate their maintenance schedules, providers and techniques for another five years.
This action follows a proposal to reauthorise Queensland LNG producers to coordinate maintenance back in May.
Australia Pacific LNG Pty, Gladstone LNG, and the Queensland Curtis LNG Project facilities are all connected to gas wells in the Surat and Bowen basins of Queensland.
“The reauthorisation means that all three gas plants can coordinate when their facilities will be taken offline for maintenance,” said ACCC Chair Rod Sims.
“This will reduce the likelihood of major disruptions to domestic gas markets, which could occur if multiple maintenance events cause more than one facility to be taken offline at the same time.”
The ACCC first authorised maintenance coordination in 2016, requiring that applicants publicly disclose the information they share between themselves, namely maintenance schedule information, to ensure that other market participants do not have an information disadvantage.
This action was taken after wholesale gas traders raised concern that coordination between LNG producers would allow them to trade advantageously in gas markets.
According to the ACCC, the transparency measures will likely be implemented during the five-year period of reauthorisation and will require LNG producers to provide detailed information, including forecast maintenance events in the coming 12 months.
“We consider that all information shared among these producers should be disclosed to the rest of the market, whereas the National Gas Law has a different focus and may not apply to information about maintenance planned more than 12 months in advance,” said Mr Sims.
For more information visit the ACCC website.
