Major gas exporters on Australia's east coast have agreed to a two-year supply deal to ensure there is no shortfall of gas in the domestic market after talks with the federal government.
Prime Minister Malcolm Turnbull says executives from Shell, Origin Energy and Santos, which run large gas export terminals in Queensland, had guaranteed local supplies over two years at a meeting on Wednesday.
"This is very good progress today," Mr Turnbull said after the meeting with gas bosses and industry officials in Sydney.
"There is more work to be done but we have secured that guarantee from the three big gas exporters that they will provide the gas to meet the expected shortfall identified by AEMO and ACCC in 2018."
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