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East Coast Gas prices to spike AGL

The Business Spectator reports that AGLs CEO is predicting east coast gas prices will triple once the coal seam gas LNG plants in Queensland come online in 2015 - Gas prices to spike: AGL.

Mr Fraser said as power generators and industrial users absorb the effects of $70 billion worth of LNG plants being constructed at Gladstone, domestic demand would come under pressure and push gas prices higher. "Everybody talked about there being a surplus of ramp-up gas, now people talk about the wedge gas -- the shortfall in the gas they have in the early years of the project," Mr Fraser said. "Deals are being done at $9-$10 and who knows where it will go when it starts up."