Australia's Gas Reservation U-Turn: Labor Softens Export Rules as WA Fights for Exemption

Labor's landmark 20% gas reservation plan has been significantly softened, with the government backtracking from a fixed requirement to exporters setting aside "up to" one-fifth of their production for the domestic market. The draft legislation, released Thursday, includes a new demand-calibration mechanism that could lower the reservation level when domestic demand is forecast to be weak. Energy Minister Chris Bowen pitched the changes as a "sensible calibration" that would...