EAST COAST GAS MARKET UPDATE
09 August 2026
Weekly Spot Price Movement
| STTM Hub | 2 Aug 2026 | 9 Aug 2026 | Change | Week-on-Week |
| Sydney | $11.79 | $10.50 | -$1.29 | -10.9% |
| Brisbane | $12.33 | $10.61 | -$1.72 | -13.9% |
| Adelaide | $11.74 | $10.50 | -$1.24 | -10.6% |
Prices for the Remainder of the Week
Sydney is forecast to remain relatively steady at $10.50 – $10.81/GJ, while Adelaide is expected to range between $10.20 – $10.87/GJ. Brisbane is forecast at $10.48/GJ on Tuesday, rising to $11.00/GJ for Wednesday and Thursday.
East Coast Supply and Demand
| Region | Supply | Demand | Net position |
| East Coast | 5,442 TJ | 5,359 TJ | 83 TJ |
East Coast supply and demand is currently broadly balanced, with supply exceeding demand by 83 TJ, indicating a modest supply surplus.
Iona Gas Storage
| Facility | Daily flow | Balance | Capacity utilised |
| East Coast | -56 TJ | 14,295 TJ | 59% |
Iona storage has fallen from 14,827 TJ (61%) on 4 August to 14,295 TJ (59%) on 11 August, a week on-week reduction of 532 TJ (2%).
The facility continues to be drawn down, although the latest daily withdrawal of 56 TJ is considerably lower than the 164 TJ withdrawal recorded at the same time last week.
Outlook
East Coast gas market conditions remain relatively stable, with STTM prices easing materially over the past week and supply currently exceeding demand. Iona storage continues to be drawn down, although the rate of withdrawal has moderated compared with last week.
Looking ahead, domestic gas policy and the development of new supply remain the key issues to watch, particularly as the market works towards addressing forecast East Coast supply pressures.
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Market News – Last 7 Days
Shell invests in next phase of Arrow Energy’s Surat Gas Project – 5 August 2026
Shell has committed to the next phase of Arrow Energy’s Surat Gas Project in Queensland, with peak production expected to reach around 79 million standard cubic feet per day and first gas targeted for 2028. The gas will supply the QCLNG project, while Shell has again warned that the Federal Government’s proposed domestic gas reservation policy could discourage future investment in new supply.
Beach Energy eyes east coast LNG sales as gas reservation looms – 6 August 2026
Beach Energy is considering LNG export options for its east coast gas portfolio as it assesses the impact of the Government’s proposed gas reservation policy. The move highlights the continuing tension between securing additional domestic supply and maintaining incentives for producers to invest in new gas developments.
Inpex lifts outlook on stronger LNG production – 7 August 2026
Inpex has raised its full-year earnings guidance, supported by higher oil prices and strong production from the Ichthys LNG project in Australia. While Ichthys is not part of the east coast domestic market, the result reinforces the strong international LNG pricing environment that continues to influence Australian gas investment and export economics.