Australia Sets LNG Reserve Rules to Protect Domestic Supply and Cap Prices

Australia has set rules for liquefied natural gas (LNG) reserves to protect domestic supply and cap prices, according to Digitimes.

The rules aim to ensure a stable LNG supply in Australia, which is heavily reliant on imports. The country's LNG market is dominated by major players such as Woodside Petroleum and Santos Ltd.

Digitimes reports that the new regulations will require companies to maintain minimum levels of LNG reserves, but does not specify what these levels are or how they will be enforced.