A new report by independent energy consultancy EnergyQuest has revealed that instead of driving a gas investment boom, high energy prices on Australia’s east coast was in fact resulting in lower underlying gas demand.
EnergyQuest CEO Dr Graeme Bethune on Tuesday said that while total east coast domestic gas demand fell by 2.5% in the March quarter, compared with the same period last year, while underlying gas demand was falling at a much higher rate.
