This report provides an in-depth analysis of the Australian gas industry, examining its structure, key players, and the significant changes it has undergone. The report explores the rising demand for natural gas, driven by factors such as its cleaner nature compared to coal and the growth of the LNG market. It analyzes historical gas price trends, identifying factors contributing to price hikes, including crude oil prices, local demand, and distribution costs. The analysis further delves into demand-related factors, such as increased local and export demand, and supply-side effects, including limited resources and shifts in supply curves. The report also discusses the role of substitutes like renewable energy sources and the impact of gas-fired power generators. Finally, it concludes with an overview of the current state of the Australian gas market and its future challenges and opportunities.