A new report predicts offshore Victorian gas output will decline rapidly from around 2023.

EnergyQuest’s latest report says offshore production in Victoria, which supplies Victoria, Tasmania and much of New South Wales and South Australian demand, is set for a rapid decrease.

“It might be later, like 2024, but it might also be earlier like 2022. It depends on when one of the two remaining Gippsland legacy fields waters out. Otway Basin production is already declining,” the report stated.

“Moreover, Cooper Basin production, which is also important for NSW and South Australia, is expected to start declining around 2026.”

EnergyQuest says additional gas supplies are urgently needed.