EAST COAST GAS MARKET UPDATE
23 August 2026
Weekly Spot Price Movement
| STTM Hub | 16 Aug 2026 | 23 Aug 2026 | Change | Week-on-Week |
| Sydney | $10.46 | $10.86 | +$0.40 | +3.8% |
| Brisbane | $11.38 | $11.05 | -$0.33 | -2.9% |
| Adelaide | $10.61 | $10.50 | -$0.11 | -1.0% |
Prices for the Remainder of the Week
STTM prices are forecast to remain relatively stable for the remainder of the week. Sydney is expected to range between $10.80–$11.05/GJ, Adelaide between $10.61–$10.96/GJ, and Brisbane between $10.97–$11.19/GJ.
Overall, forward pricing remains tightly grouped around the $11/GJ level, with no significant price movements currently anticipated across the three hubs.
East Coast Supply and Demand
| Region | Supply | Demand | Net position |
| East Coast | 5,444 TJ | 5,485 TJ | -41 TJ |
East Coast supply and demand remains broadly balanced, although demand is currently exceeding supply by 41 TJ, indicating a modest supply shortfall.
Iona Gas Storage
| Facility | Daily flow | Balance | Capacity utilised |
| East Coast | +26 TJ | 13,393 TJ | 55% |
Iona storage has fallen from 13,923 TJ (57%) on 17 August to 13,393 TJ (55%) on 25 August, a reduction of 530 TJ (2 percentage points).
After several weeks of withdrawals, the latest daily flow shows a 26 TJ injection into storage, compared with an 82 TJ withdrawal recorded last week.
Outlook
East Coast gas market conditions remain relatively steady, with STTM prices continuing to trade around the $10–$11/GJ range. Supply and demand are broadly balanced, although demand is currently exceeding supply by a modest 41 TJ.
Iona storage has continued to decline, falling to 55% capacity. However, the latest daily flow shows a 26 TJ injection into storage, reversing the withdrawal trend seen over recent weeks.
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Market News – Last 7 Days
First gas from Australia’s Beetaloo puts shale ambitions to the test – 21 August 2026
Gas is set to begin flowing from the Beetaloo Basin next month, with Tamboran Resources targeting an initial 40 TJ/day from its Shenandoah project, followed later this year by approximately 15 TJ/day from Beetaloo Energy. While initial volumes are modest, the basin could become an important new source of Australian gas, although significant pipeline investment would be required to connect large-scale production to East Coast demand centres.
Australia’s East Coast winter gas market softens as volatility rises – 20 August 2026
Analysis published by WattClarity highlights softer East Coast gas pricing through winter, while also pointing to increasing volatility associated with weather, renewable generation and gas-fired power demand. The changing demand profile reinforces the importance of flexible gas supply and storage as the electricity market becomes increasingly dependent on gas during periods of low renewable output.
Santos expects stronger second-half production as LNG output ramps up – 19 August 2026
Santos expects production to increase 20–30% in the second half of 2026, supported by the ramp-up of its Barossa gas project and Pikka oil development. Higher LNG pricing is also expected to support second-half earnings, with around 80% of Santos’ LNG contracts linked to oil prices. The result highlights the continuing influence of international LNG and energy prices on Australian producers and investment decisions.