The Implications of the Victorian Gas Market Taskforce Report on Unconventional Gas Development in Victoria

Abstract

Late last year, the Victorian Gas Market Taskforce released its much-anticipated final report to the Victorian Government. The report provided a range of recommendations and policy options for improving the operation and efficiency of the eastern gas market in order to address serious longer term issues. The eight-member taskforce was chaired by former Commonwealth minister the Hon Peter Reith.

The report made 19 key recommendations, concluding that there is an increasing imperative for governments and industry to take collective action to implement integrated gas market reforms with the core objective of promoting competition, liquidity and transparency in the eastern markets, and to build confidence in the gas industry through community engagement so as to ensure that important economic opportunities are not overlooked.