Jul 3, 2026 – 3.04pmSenex Energy, the supplier of one-tenth of the east coast domestic market, has labelled Labor’s proposed gas reservation scheme “perverse in the extreme” and says it means the market is being “intentionally broken”.The Queensland-based producer, which is owned by South Korean steel giant Posco and mining billionaire Gina Rinehart, said the 20 per cent domestic reserve requirement on LNG exporters would create a glut in the east coast market that would be classified as “dumping” were the gas coming from overseas.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
‘Perverse in the extreme’: Senex rips into gas reserve plan
Senex CEO Darren Stevenson said it was “mind-boggling” that the government was engineering oversupply of gas that would drive down prices below costs of production.
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