Fears of a gas supply shortfall in Australia have diminished as the Australian Competition and Consumer Commission reported a projected surplus of 77 to 112 petajoules on the east coast for 2025, michaelwest.com.au reports.

Improved production, particularly from Queensland, has eased market conditions, although a shortfall of 16 petajoules is still expected in southern states due to transportation needs.

Despite a favorable supply outlook, domestic gas prices remain significantly higher than pre-2022 levels, prompting the government to emphasize ongoing efforts to stabilize energy costs and supply.