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Gas companies to reserve 20 per cent of supply for Australia under new rule

Gas companies will have to reserve one-fifth of their exports for Australian use first in a proposed move hoped to boost supply and reduce prices.

Energy Minister Chris Bowen today announced the east coast gas reservation policy would mandate the three big Queensland-based gas exporters to reserve 20 per cent of their supply to sell to Australian users from July 1, 2027.

"It will ensure a modest oversupply of Australian gas use, which will put downward pressure on prices," he said at a press conference.

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Energy Minister Chris Bowen

Under the policy, companies would need to show they have met their domestic supply obligations in order to then access the international spot market. 

This would apply to new contracts only. 

Resources Minister Madeleine King said the rule would shift the bargaining power and create a buyer's market, leading to lower prices.

"Our gas market will no longer be hostage to international markets," she said.

Australia is one of the world's biggest liquefied natural gas exporters but risks supply falling below demand from as early as 2028, according to the Australian Competition and Consumer Commission.

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Bowen admitted Australia was the only country in the world without a gas reservation despite being advised for decades that gas supply would eventually become an issue.

He and King began consulting with the industry on an overhaul to gas sector regulations late last year.

Greens resources spokesperson Steph Hodgins-May said the policy was "written by the gas industry, for the gas industry" and called for the government to introduce a gas export tax.

Prime Minister Anthony Albanese has rejected the recent push to introduce a 25 per cent tax on gas exports after independent Senator David Pocock revealed more federal tax is paid on beer than on gas exporters.

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Millions shivering as polar blast brings coldest day of the year to multiple states

A polar blast across Australia's south-east has brought year-low temperatures and snow to several states, including temperatures that are set to drop to as low as one degree tonight.

Earlier today, the Bureau of Meteorology forecasted a top of just 14 degrees for Melbourne today, its coldest day of the year so far, and temperatures later today are set to drop to as low as 10 degrees.

The nation's capital reached just 12 degrees and is expected to get as cold as one degree by midnight, while Adelaide (17 degrees) and Hobart (13 degrees) also felt the chill.

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St Leonards in Victoria this morning. Melbourne experience's a cold snap.

Sydney reached tops of 19 degrees, but that's still very cool for 2026, and the city is set to drop to 10 degrees later tonight.

The temperature across the region will rise by a couple of degrees from tomorrow, according to the Bureau of Meteorology, but will remain in the same range for several days.

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A marine wind warning is now in place until tomorrow for parts of the NSW coastline including the Macquarie Coast, Illawarra Coast, Batemans Coast and Eden Coast.

Weatherzone has also predicted "showers of small hail and snow" across areas as far north as the NSW Central Tablelands, as well as parts of Victoria, Tasmania, and the ACT.

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Major change to controversial $50 million golf course plan gets green light

A controversial $50 million plan to chop a Sydney golf course in half for public parkland has been finalised by the NSW government with a compromise.

Moore Park Golf Course in the city's eastern suburbs will be cut from 18 holes to 12 – three more holes than the original plan.

The change will make way for a 20-hectare parkland which will include new pathways, a fenced off-leash dog area, and community sports fields and courts.

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A controversial $50 million plan to chop a Sydney golf course in half for public parkland has been finalised by the NSW government with a compromise.

There will also be new amenities such as toilets, park furniture, space for food kiosks and lighting.

Work on the new parklands will start in July and will take about three years to complete.

Golf NSW chief executive Stuart Fraser said the organisation was consulted by the NSW government about the course layout.

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The change will make way for a 20-hectare parkland which will include new pathways.

"The preference has always been to retain 18 holes however this was physically not possible," Fraser said.

"Internationally recognised golf course architect Harley Kruse has, however, configured a 12-hole layout that would be practical and still offer a challenge for golfers of all abilities."

NSW Planning Minister Paul Scully said the open-plan space would act as a backyard for thousands of people in one of Australia's most densely populated communities.

"We're re-imagining Moore Park South and delivering a new 20-hectare park with everything from a new community sporting field, walking, running and cycling paths and trails and relaxation and picnic areas," Scully said.

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