Australia is on track to become the world’s biggest liquefied natural gas (LNG) exporter by 2019 yet faces a looming shortage at home as states restrict new drilling onshore and cash-strapped oil and gas companies cut spending. The paradox has led to urgent calls from everyone from Australia’s energy minister to petroleum giant Royal Dutch Shell and big industrial users like Dow Chemical and fertilizer group Incitec Pivot for action to spur new supply. The issue is set to come to a head this month, with state and federal energy ministers due to meet on Friday and the government in the state of Victoria set to decide whether to lift a ban on onshore gas developments. In a glimpse of the future, gas prices spiked to A$45 a gigajoule in Victoria in July, about six times […]