EAST COAST GAS MARKET UPDATE
06 September 2026
Weekly Spot Price Movement
| STTM Hub | 30 Aug 2026 | 6 Sep 2026 | Change | Week-on-Week |
| Sydney | $10.75 | $10.39 | -$0.36 | -3.3% |
| Brisbane | $11.13 | $10.80 | -$0.33 | -3.0% |
| Adelaide | $10.68 | $10.40 | -$0.28 | -2.6% |
Prices for the Remainder of the Week
Prices for the remainder of the week are expected to remain relatively stable, with Sydney forecast between $10.30–$10.66/GJ, Adelaide between $10.42–$10.76/GJ and Brisbane between $10.88–$11.11/GJ. Brisbane remains slightly higher than Sydney and Adelaide, although overall prices continue to trade within a relatively tight range.
East Coast Supply and Demand
| Region | Supply | Demand | Net position |
| East Coast | 5,504 TJ | 5,522 TJ | -18 TJ |
East Coast supply and demand remain broadly balanced, although demand is currently exceeding supply by 18 TJ. This is a deterioration from the 33 TJ surplus recorded last week, representing a 51 TJ week-on-week swing in the net position.
Iona Gas Storage
| Facility | Daily flow | Balance | Capacity utilised |
| East Coast | -92 TJ | 13,118 TJ | 54% |
Iona storage has increased from 12,973 TJ (53%) last week to 13,118 TJ (54%), a week-on-week increase of 145 TJ (1 percentage point).
Despite the higher storage balance, the latest daily flow shows a 92 TJ withdrawal, up significantly from the 29 TJ withdrawal last week. This will be worth monitoring to see whether the increased draw continues.
Outlook
East Coast gas market conditions remain relatively stable, with STTM prices continuing to trade around the $10–$11/GJ range. The supply-demand balance has tightened slightly, with demand exceeding supply by 18 TJ, compared with a 33 TJ surplus last week, representing a 51 TJ week-on-week deterioration in the net position.
Iona storage has improved modestly, increasing from 53% to 54% capacity, with inventories rising by 145 TJ over the week. However, the latest daily flow shows a significantly larger 92 TJ withdrawal, compared with 29 TJ last week, so storage movements remain an important indicator to watch as the market moves further into spring.
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Market News – Last 7 Days
APLNG challenges proposed domestic gas reservation arrangements – 7 September 2026
Australia Pacific LNG has raised concerns over the Federal Government’s proposed gas reservation framework, arguing that LNG exporters should not be able to purchase gas from the domestic market simply to satisfy reservation obligations. With Queensland LNG producers playing a major role in East Coast supply, the final design of the scheme could have important implications for domestic gas availability and wholesale pricing.
Plans progress to connect Beetaloo gas directly to the East Coast market – 3 September 2026
Jemena has announced plans for a 400 km pipeline connection linking the Beetaloo Basin with the existing Northern Gas Pipeline, creating a potential pathway for new Northern Territory gas to reach East Coast customers. First gas has now begun flowing from Beetaloo, while both Jemena and APA are progressing infrastructure proposals aimed at bringing substantially larger volumes south and east as production expands.
Middle East disruption increases the strategic importance of Australian gas – 3 September 2026
Continuing disruption to Middle Eastern LNG supply has increased international focus on alternative long-term gas resources, including Australia’s Beetaloo Basin. Reuters reports that Asian buyers are increasingly focused on energy security following the disruption, potentially strengthening demand for Australian LNG and investment in new Australian gas production. While the immediate impact on East Coast prices remains limited, stronger international LNG demand remains an important external risk for the domestic market.