Australian State Launches First Gas Tender in Years
Australia’s state of New South Wales today launched the first natural gas exploration tender in ten years amid a supply crunch caused by the war in the Middle East. Reuters reports that to encourage participation, the state government cut the entry fee from A$50,000 to as little as A$1,000. The sums are equal to $35,800 and $716, respectively. “What we need to do, carefully and methodically, is make sure we are responsibly pulling every lever to support a stable and robust energy grid for decades to come,” the state’s natural…