‘Perverse in the extreme’: Senex rips into gas reserve plan

Senex Energy, the supplier of one-tenth of the east coast domestic market, has labelled Labor’s proposed gas reservation scheme “perverse in the extreme” and says it means the market is being “intentionally broken”. The Queensland-based producer, which is owned by South Korean steel giant Posco and mining billionaire Gina Rinehart, said the 20 per cent domestic reserve requirement on LNG exporters would create a glut in the east coast market that would be classified as “dumping” were the gas coming from overseas.