Weekly Spot Price Movement
| STTM Hub | 23 Aug 2026 | 30 Aug 2026 | Change | Week-on-Week |
| Sydney | $10.86 | $10.75 | -$0.11 | -1.0% |
| Brisbane | $11.05 | $11.13 | +$0.08 | +0.7% |
| Adelaide | $10.50 | $10.68 | +$0.18 | +1.7% |
Prices for the Remainder of the Week
Prices for the remainder of the week are expected to remain relatively stable, with Sydney forecast between $10.60–$10.86/GJ, Adelaide between $10.50–$11.40/GJ and Brisbane between $11.17–
$11.99/GJ. Some strengthening is forecast for Wednesday, particularly in Brisbane and Adelaide, although overall prices remain within the recent trading range.
East Coast Supply and Demand
| Region | Supply | Demand | Net position |
| East Coast | 5,533 TJ | 5,500 TJ | 33 TJ |
East Coast supply and demand remain broadly balanced, with supply exceeding demand by 33 TJ. This is an improvement from the 41 TJ shortfall recorded last week, representing a 74 TJ week-on-week swing in the net position.
Iona Gas Storage
| Facility | Daily flow | Balance | Capacity utilised |
| East Coast | -29 TJ | 12,973 TJ | 53% |
Iona storage has fallen from 13,393 TJ (55%) last week to 12,973 TJ (53%), a week-on-week reduction of 420 TJ (2 percentage points).
The facility has returned to withdrawal, with a 29 TJ daily draw, compared with a 26 TJ injection last week, continuing the broader decline in storage levels.
Outlook
East Coast gas market conditions remain relatively stable, with STTM prices continuing to trade around the $10–$11/GJ range. Supply has moved back ahead of demand, recording a 33 TJ surplus, compared with a 41 TJ shortfall last week, representing a 74 TJ improvement in the weekly supply-demand balance.
Iona storage remains the key indicator to watch, falling from 55% to 53% capacity over the week, with levels declining by a further 420 TJ. The facility has also returned to withdrawal following last week’s injection, although with winter coming to an end, the focus will increasingly shift towards whether storage levels begin to stabilise and rebuild through spring.
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Market News – Last 7 Days
Gas industry wins concessions as Government holds firm on domestic supply policy – 25 August 2026
The Federal Government has softened some elements of its proposed gas reservation framework following industry pressure, while retaining its central policy of requiring LNG exporters to make additional gas available to the domestic market. The Government argues the policy will create a modest domestic surplus and place downward pressure on prices, while producers continue to warn that excessive intervention could weaken investment in new supply. This remains directly relevant to the longer-term East Coast wholesale price and supply outlook.
Chevron warns project challenges could threaten future Australian gas investment – 28 August 2026
Chevron Australia has warned that increasing legal and regulatory challenges to major gas developments risk delaying projects and discouraging investment in new supply. While Chevron’s major LNG operations are in Western Australia, the broader issue is relevant to the East Coast market, where additional gas investment will be required as existing southern production declines and the market approaches forecast supply pressures later this decade.
Beetaloo Basin reaches first commercial gas milestone – 31 August 2026
Tamboran Resources is commencing the first commercial gas production from the Beetaloo Basin, with initial supply from Shenandoah South destined for the Northern Territory market. Although the NT is currently separate from the East Coast gas system, development of the enormous Beetaloo resource remains important to Australia’s longer-term gas outlook, particularly if future pipeline infrastructure eventually allows larger volumes to reach eastern or LNG markets.