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Support grows for Australian cross-continent pipeline to combat gas shortages

|By: , SA News Editor

Australia’s government may support construction of a 1K-mile gas pipeline likely to cost more than A$5B (US$3.8B), WSJ reports, amid growing concern about shortages of liquefied natural gas and blackouts on the country’s populous eastern seaboard.

Two senior ministers expressed support for a transcontinental pipeline as Prime Minister Turnbull met with major LNG exporters including Royal Dutch Shell (RDS.A, RDS.B), Exxon Mobil (NYSE:XOM) and Santos (OTCPK:STOSF) to discuss ways of getting more LNG into the domestic energy market.

If approved, the pipeline would run from the resource-rich northwest of Western Australia state to South Australia state, which was hit by a string of storms and blackouts over the summer.

Origin Energy (OTCPK:OGFGF), operator of one of three major LNG facilities on the Queensland coast and a major energy retailer, says it backs the move.

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