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Australian average wholesale gas prices remain below Asian average

(APPEA Media Release (extract), 5 July 2017).

Average wholesale gas prices in Australia remain lower compared to the average in the Asia‑Pacific region, according to a new report. The International Gas Union’s Wholesale Gas Price Survey 2017 shows that the average wholesale gas price in Australia last year of around $US4.29/MMBTU was around one-third less than the average price for the Asia‑Pacific region. By comparison, Australia’s leading trade partners Japan, South Korea and China all paid average wholesale gas prices between $US7 and well over $US8/MMBTU. Australia also enjoyed lower wholesale gas prices than its two regional LNG export competitors, Malaysia and Indonesia. Globally, Australia’s average wholesale price ranked 26th in a survey of 52 nations.

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