Document ID: chunk:federal_register_of_legislation:F2023N00066:clause:2_7
Version: federal_register_of_legislation:F2023N00066
Segment Type: clause
Provision Reference: sch 2 cl 7
Character Range: 5178–7454

7  Summary of timeframes

Minister to be advised of forecast domestic gas supply and demand
    (1)    The Minister will base their decision on whether to make a Minister's notification on forecasts, information and advice on the domestic gas supply and demand balance. These forecasts, information and advice will be provided by:
          1. the Department, ACCC and AEMO;
          2. Australian gas producers and consumers; and
          3. any other sources of information the Minister considers relevant.

Minister's notification
     (2)        The Minister's notification must be issued at least three months prior to the commencement of the domestic shortfall quarter.
          1. For Q1, this is 1 October the previous calendar year.
          2. For Q2, this is 1 January the same calendar year.
          3. For Q3, this is 1 April the same calendar year.
          4. For Q4, this is 1 July the same calendar year.

Consultation
     (3)         Following the Minister's notification, the Minister will consult on whether to determine a domestic shortfall quarter with:
          1. LNG projects;
          2. the Ministers specified in paragraph 13GE(2)(b) of the Regulations.
     (4)        Those consulted will have at least 30 calendar days from the Minister's notification to provide any information that would impact on the shortfall forecast.

Minister's determination
     (5)         The Minister's determination will be made no later than 45 calendar days after the deadline for the Minister's notification, as set out in subsection (2) in this section.

Permissions
     (6)         In accordance with paragraph 13GC(1)(a) of the Regulations, a permission will be required for all LNG exported in a domestic shortfall quarter.
     (7)        The Minister will grant an initial permission to an LNG project no less than 30 calendar days before the domestic shortfall quarter commences.
     (8)        Following the grant of an initial permission, the Minister may grant additional permissions, vary a permission, accept the surrender of a permission, revoke a permission, or alter the conditions of a permission.
     (9)        Volumes specified in an allowable volume (AV) permission can be traded on and from the date the permission is granted.