Australian gas discovery eases east-coast supply concerns

Woodside and Esso have discovered 92 petajoules of natural gas in the Bass Strait, providing a timely boost to Australia’s east-coast supply. The reserves, found in mature offshore fields, can be brought online quickly using existing infrastructure. While modest by global standards, the find may delay projected shortfalls by up to two years. This development comes as the AEMO had warned of looming gaps by 2026. The discovery may also ease pressure to build LNG import terminals, which face political and environmental hurdles. It offers a short-term buffer for domestic energy security.