The Australian federal government has introduced a gas reservation scheme mandating that gas companies reserve 20% of their export volumes for domestic use, effective July 1, 2027. This initiative aims to enhance gas supplies and reduce prices for households and businesses on the east coast, which have been impacted by international market fluctuations. The scheme is part of a wider reform of the gas sector, responding to rising prices linked to the global market, particularly following events like Russia’s war in Ukraine. Resources Minister Madeleine King emphasized that the new regulations would provide a “modest oversupply” of gas, helping to avert shortages. Additionally, the government has decided against imposing a new tax on existing gas export contracts in the upcoming federal budget to maintain good relations with Asian trading partners. A parliamentary inquiry on the potential for a new gas tax is set to present its findings soon.