RIO Tinto has admitted it is struggling to get QLD gas sellers to the bargaining table in further evidence of a looming east coast gas shortage

James Marlay

RIO Tinto has admitted it is struggling to get QLD gas sellers to the bargaining table in further evidence of a looming east coast gas shortage. The concern expressed by RIO's head of bauxite and alumina was not such much the price that they would have to pay but more specifically if there would be any gas available. We're not asking for preferential prices or that sort of thing, we're just asking for there to be a market in eastern Australia, Mr Fiore said. Right now we're struggling to attract anyone to the table to negotiate. Adding further concern to the situation is persistent chatter that many CSG wells are performing below expectations crimping the supply outlook even further. Rio's situation comes despite assurances from Queensland's biggest suppliers, AGL Energy and Origin Energy that there is available gas. Full article here (VIEW LINK)


James Marlay

I have 13 years experience in equity markets and financial media. In 2013 I Co Founded, Livewire Markets with Tom McKay. Our vision is to be the #1 source of investment ideas in Australia. Opinions expressed are my own.

Expertise

gas

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