The Gas Statement of Opportunities (GSOO) provides a forecast of annual gas consumption and maximum gas demand, and reports on the adequacy of central and eastern gas markets to supply forecast demand over a 20-year outlook period. The report provides technical insights to support investors and governments to make informed decisions to benefit consumers.

The forecast is based on information provided by gas industry participants to meet households’ and businesses’ changing energy needs to 2044. The report is accompanied by information papers on gas demand forecasting methodology and gas supply adequacy methodology.

Key findings

• Gas supply from the Bass Strait, which historically supplied two-thirds of the gas used in the East Coast Gas Market (ECGM), is declining.
• During Australia’s transition to a net zero emissions future, gas will continue to be used by Australian households, businesses, and industry, and to support the operation of the electricity sector.
• Gas consumption is expected to reduce with the switching from gas to electricity in the residential, commercial and industrial sectors.
• The risk of peak-day shortfalls and seasonal supply gaps in the southern states is expected to arise from 2028.
• New investment is needed to deal with structural supply risks from 2029 to maintain supply to homes and businesses including for gas-powered electricity generation.