Australian Government Extends Gas Security Mechanism to Prevent Shortages

Australian Federal Resources Minister Madeleine King addresses the media alongside Prime Minister Anthony Albanese in Kwinana, Australia, on March 4, 2021. Paul Kane/Getty Images

The Australian government will prolong the Australian Domestic Gas Security Mechanism (ADGSM) by another seven years to January 2030 in an effort to improve local gas supplies.

Following the federal government’s decision, Resources Minister Madeleine King has said she will issue a notice of intention to implement the mechanism in 2023.