The Australian Labor Government is advancing a plan to establish the country's first domestic gas reserve to mitigate soaring energy costs for businesses and households. Australian Federal Energy Minister Chris Bowen announced a legislative package on Thursday that would allow 20% of exported gas to be extracted to supply domestic users. Bowen said the target will ensure that the domestic gas market remains moderately oversupplied.

The Australian Labor Government is advancing a plan to establish the country's first domestic gas reserve to mitigate soaring energy costs for businesses and households. Australian Federal Energy Minister Chris Bowen announced a legislative package on Thursday that would allow 20% of exported gas to be extracted to supply domestic users. Bowen said the target will ensure that the domestic gas market remains moderately oversupplied.