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Updated June 2nd, 2022 at 15:12 IST

Australia: Newly-appointed Energy Minister Bowen claims country faces severe gas crisis

Australia's new Climate Change and Energy minister stated that the country is facing a severe gas crisis and the issue will take time to be solved fully.

Reported by: Anurag Roushan
Australia
Image: AP | Image:self
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Australia's newly appointed Climate Change and Energy minister warned that the country is facing a severe gas crisis and the issue will take time to be solved fully. Addressing his first press conference on Thursday, the minister and the Labor Party leader Chris Bowen stated that he is open to considering all measures to reduce the rising cost of gas and power in the country. He further stated that the energy markets in the country are in the midst of a "perfect storm." According to the minister, there are a variety of elements at play in the extremely dangerous and difficult situation with electricity and gas supplies in particular. 

"We are facing obviously a geopolitical situation around the world. We are facing some coal-fire power closure station outages and some flooding impacts on coal mines and an array of other factors," Bowen stated. He also ensured the gas users that necessary actions are being taken to resolve the crisis. According to reports, the Gas Supply Guarantee has been triggered by the Australian Energy Market Operator, which will see the gas industry collaborate with the regulator to ensure the peak demand for gas is fulfilled.  Following skyrocketing wholesale prices, some states in the country have placed a cap of $40 per gigajoule.

Australia's minister Bowen vows to take action on the issue of climate change

Further, Bowen acknowledged that the Resources Minister has the authority to pull the gas trigger, but said doing so would have no immediate effect, dismissing claims that it could be used to resolve the problem. Notably, the present cold spell in south-eastern Australia, combined with the failure of a gas supplier recently, has driven up the spot price of gas. The Australian minister also vowed to take some real action on the issue of climate change, saying that his government will seek to end the climate war. 

It is pertinent to mention here that Australian Prime Minister Anthony Albanese has also pledged to take the country in a new direction, with a significant shift in climate policy. After winning the 2022 federal elections in May, he claimed that Australia has the potential to become a renewable energy superpower. In addition, the newly-elected Prime Minister also pledged to implement more ambitious emissions targets in the country. 

Image: AP

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Published June 2nd, 2022 at 15:12 IST

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