The gas reserve will be aimed at preventing looming supply shortfalls and driving down prices for households and industry.<\/p>\n
Under the scheme, gas companies will be forced to keep 20 per cent of gas exports for the domestic east coast market from July 1, 2027.<\/p>\n
Labor MP Luke Gosling told the Future Townsville forum that the Albanese government did \u201cappreciate the role” fossil fuels had in the energy mix.<\/p>\n
However, Mr Gosling said transitioning away from fossil fuels was \u201csensible\u201d when there were other forms of energy available.<\/p>\n
\u201cBut we know the gas is going to be around for a while to come,\u201d he said.<\/p>\n
Ms Hanson turned to Mr Gosling and told him Labor was going to \u201cdestroy\u201d the gas industry.<\/p>\n
\u201cYou talk about having gas, but under your reservation policy, you’re going to destroy the gas industry,\u201d Senator Hanson said.<\/p>\n
![\"\u2018It\u2019s](\"https:\/\/www.europesays.com\/australia\/wp-content\/uploads\/2026\/06\/4194176bb0f1f773a55b2ef79854223a.jpeg\")
<\/p>\n
Energy Minister Chris Bowen unveiled details of the long-awaited policy in early May,\u00a012 months after then opposition leader Peter Dutton floated the idea<\/a>.<\/p>\n “Today we can announce that we have settled on a model which we will seek to legislate through the Parliament,” Mr Bowen said at a press conference on Thursday.\u00a0<\/p>\n “That model will involve 20 per cent of Australian gas exports being reserved for Australian use first.”<\/p>\n Mr Bowen admitted that the gas reserve would cause “modest oversupply” of gas into the domestic market.<\/p>\n