Written by Squadron Energy |
The Australian Energy Market Operator's (AEMO) latest Gas Statement of Opportunities (GSOO) has highlighted the essential role of gas-powered electricity generation in ensuring reliability and security as Australia transitions to renewables.
AEMO has forecasted the risk of peak-day shortfalls and seasonal supply gaps in the southern states is expected to arise from 2028, with annual supply gaps emerging from 2029.
“While the extension of coal-fired power generation at Eraring has temporarily reduced the demand for gas power generation, this approach merely kicks the can down the road resulting in higher emissions,” Squadron Energy CEO Rob Wheals said.
“It is crucial to address the underlying issues and prepare for the inevitable shortfalls.”
Squadron Energy’s Port Kembla Energy Terminal stands ready to address seasonal and structural shortfalls with the ability to access gas both domestically within Australia and globally.
With global gas prices expected to be competitive and LNG supply set to grow by 50% over the next four years, the terminal allows gas shortfalls to be avoided by sourcing gas globally at typically low-priced periods during northern hemisphere summers.
The regassification terminal, which acts as a virtual pipeline, is the only facility in Australia which has completed construction and is undergoing commissioning.
