Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
Brisbane gas short term trading market up and running



Download PDFDownload PDF

Minister for Resources and Energy, Minister for Tourism

Brisbane Gas Short Term Trading Market Up and Running 01 December 2011

The Minister for Resources and Energy, Martin Ferguson AM MP, has today welcomed the start of operations of the natural gas Short Term Trading Market (STTM) hub in Brisbane.

The creation of this new wholesale market hub in Brisbane represents an important step forward that can over time change the way gas is bought and sold in the market, providing additional flexibility for buyers and sellers of gas, and improved price transparency.

This is the culmination of significant collaborative work between the Commonwealth, state and territory governments, industry and the Australian Energy Market Operator (AEMO) - which will operate the new market.

The Minister for Resources and Energy, Martin Ferguson AM MP, says the establishment of the Brisbane STTM hub is an important development.

“Given the significant role gas has to play in our energy future, initiatives such as the STTM are important to enhance transparency, and over time can help facilitate greater depth and liquidity in the gas market.

“The key role of gas in Australia's energy system was highlighted by AEMO in its 2011 Gas Statement of Opportunities (GSOO), released yesterday, which showed that Australia’s eastern and south eastern domestic and LNG export demand is forecast to grow by between 8.9% and 12.6% per annum over the next 20 years.

“These growth forecasts highlight the importance of facilitating a gas market where participants can make informed and efficient investment decisions to ensure Australia can to meet its growing domestic and export demand requirements, as well as delivering reliable and competitively priced energy for Australian

consumers.

“The establishment of the Brisbane STTM hub will play a role in meeting these objectives, and I recognise that today’s start date has required significant work from all parties, including industry.”

The STTM is an initiative of the Standing Council on Energy and Resources - formerly the Ministerial Council on Energy.

The establishment of the Brisbane STTM hub - along with AEMO's operation of existing hubs in Adelaide and Sydney - will be closely monitored by energy ministers to ensure the STTM hubs are delivering desired outcomes smoothly and efficiently, from both an industry and customer perspective.

Page 1 of 2 Brisbane Gas Short Term Trading Market Up and Running

4/04/2012 http://minister.ret.gov.au/MediaCentre/MediaReleases/Pages/...

More information on the STTM can be found at www.aemo.com.au.

Media Contact:

Cathryn Tilmouth - 0401 222 941

Page 2 of 2 Brisbane Gas Short Term Trading Market Up and Running

4/04/2012 http://minister.ret.gov.au/MediaCentre/MediaReleases/Pages/...