ACCC warns of possible gas shortage in Victoria

The ACCC warns a gas shortage could affect Victoria in as little as three years. Despite Australia's ranking as a top natural gas exporter globally - local supplies are tightening. The consumer watchdog predicted a surplus between 26 and 35 petajoules by the end of March next year - but it estimates that number could be as low as 12. The decline is being blamed on an increase in contracted exports. Victoria's Energy Minister is overseeing new projects to store gas following government approval for new drilling sites.