The STTM is an initiative of the Standing Council on Energy and Resources – formerly the Ministerial Council on Energy and operated by the Australian Energy Market Operator (AEMO) – which will operate the new market.

According to Mr Ferguson the creation of this new wholesale market hub in Brisbane represents an important step forward that can over time change the way gas is bought and sold in the market, providing additional flexibility for buyers and sellers of gas, and improved price transparency.

“Given the significant role gas has to play in our energy future, initiatives such as the STTM are important to enhance transparency, and over time can help facilitate greater depth and liquidity in the gas market," he said.