EAST COAST GAS MARKET UPDATE
16 August 2026
Weekly Spot Price Movement
| STTM Hub | 9 Aug 2026 | 16 Aug 2026 | Change | Week-on-Week |
| Sydney | $10.50 | $10.46 | -$0.04 | -0.4% |
| Brisbane | $10.61 | $11.38 | +$0.77 | +7.3% |
| Adelaide | $10.50 | $10.61 | +$0.11 | +1.0% |
Prices for the Remainder of the Week
Sydney is forecast to remain relatively steady for the remainder of the week, ranging between $10.82 – $11.14/GJ, while Adelaide is expected to trade between $10.60–$10.83/GJ. Brisbane is also forecast to remain stable at around $10.83 – $11.05/GJ, with no significant price movements currently anticipated across the three STTM hubs.
East Coast Supply and Demand
| Region | Supply | Demand | Net position |
| East Coast | 5,521 TJ | 5,457 TJ | +64 TJ |
East Coast supply and demand remain broadly balanced, with supply exceeding demand by 64 TJ, indicating a modest supply surplus.
Iona Gas Storage
| Facility | Daily flow | Balance | Capacity utilised |
| East Coast | -82 TJ | 13,923 TJ | 57% |
Iona storage has fallen from 14,295 TJ (59%) on 11 August to 13,923 TJ (57%) on 17 August, a reduction of 372 TJ (2 percentage points).
The facility continues to be drawn out, with the latest daily withdrawal increasing to 82 TJ, compared with 56 TJ last week.
Outlook
East Coast gas market conditions remain relatively steady, with STTM prices holding around the $10–$11/GJ range and supply continuing to slightly exceed demand. Brisbane has strengthened compared with last week, while Sydney and Adelaide remain broadly stable.
Iona storage continues to decline, falling to 57% capacity, with withdrawals increasing compared with the previous week. This remains a key indicator to watch as winter demand persists.
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Market News – Last 7 Days
Papua LNG development gathers momentum amid global supply concerns – 14 August 2026
Major energy companies are progressing plans for the Papua LNG project, led by TotalEnergies, as ongoing Middle East supply concerns increase the focus on alternative LNG sources in the Asia-Pacific. While not an East Coast domestic project, its proximity to Australia and potential addition to regional LNG supply makes it relevant to the longer-term pricing and supply environment facing Australian LNG producers and buyers.
Beetaloo Energy targets first gas in Q4 2026 – 12 August 2026
Beetaloo Energy is targeting first gas from its Carpentaria pilot project in the fourth quarter of 2026, marking another step towards commercial production from the Northern Territory’s Beetaloo Basin. The project is particularly relevant to the East Coast outlook given the longer-term potential for Beetaloo gas to supply eastern markets, although additional pipeline infrastructure would be required to deliver material volumes south.
Tamar Valley gas-fired generation passes one month of continuous operation – 15 August 2026
Tasmania’s Tamar Valley Combined Cycle gas-fired power station has now operated continuously for more than a month. The extended run highlights the continuing role of gas-fired generation in supporting the electricity system during periods of tighter supply and provides useful context for gas demand as the East Coast market moves through the latter part of winter.