Australia relaxes LNG gas reserve rule, replacing 20% with annual cap
Australia said it will relax a proposed rule that would have forced natural gas exporters to reserve 20% of production for the local market. The change replaces the fixed requirement with an annual cap based on demand set by the energy regulator.
The Australian government said Thursday it will soften a proposed rule that would have required natural gas exporters to set aside 20% of production for the domestic market, replacing the fixed obligation with an annual cap tied to demand. Australia's energy regulator will determine the amount each year.