Labor plans to restrict Aussie LNG exports if elected

Sydney

NEW liquefied natural gas projects in Australia, which is forecast to become the world's largest exporter of the fuel, may need to set aside supplies for domestic use under a policy proposed by the opposition Labor Party.

Rising gas demand in Asia is set to lead to higher prices at home, hurting households and businesses, Chris Bowen, the shadow treasurer, wrote in a letter published on Wednesday in the Australian Financial Review. If elected, Labor would introduce a policy to ensure that new LNG plants, or significant expansion, are in the national interest, he wrote.