Australia considers imposing windfall tax on liquefied natural gas

Golden Ten Data reported on March 20 that, in order to take advantage of the surge in fuel prices, Australian Prime Minister Albanese has asked the Treasury to study the imposition of a windfall tax on the massive liquefied natural gas industry. Energy Minister Chris Bowen confirmed this at a press conference on Friday, but did not provide further details. Australia was the world's third-largest exporter of liquefied natural gas last year, exporting nearly 80 million tons worth 65 billion Australian dollars (46 billion US dollars) in the year ending June 2025, mainly to Japan, South Korea, and China. According to the industry lobbying group "Australian Energy Producers," the oil and gas industry paid about 22 billion Australian dollars in taxes and royalties during 2024-2025. The group warned that increasing taxes would hinder investment in new gas supplies, lead to shortages in the domestic market, and cause pain for households at a time when inflation is already high. The group's CEO, Samantha McCulloch, stated that imposing a windfall tax would make Australia more vulnerable to future energy shocks.