Walloons
Walloons is a part of Shell’s QGC business and is responsible for the marketing and trading of natural gas in the Australian gas market on behalf of the Queensland Curtis LNG venture.
Discover more about Walloons
Who we are
Shell’s QGC business is the operator of the Queensland Curtis LNG (QCLNG) venture (Shell 73.75%, CNOOC 25% and MidOcean Energy 1.25%). This venture includes Walloons Coal Seam Gas Company (Walloons), a company owned by Shell QGC (75%) and CNOOC (25%). Walloons is the market facing entity for the QCLNG venture in the Australian east coast gas market.
How we operate
Walloons is the aggregator of natural gas for the QCLNG venture and is responsible for managing the delivery of natural gas to the QCLNG terminal on Curtis Island, as well as for domestic marketing and trading of gas associated with the QCLNG venture.
Although Shell is a participant in the QCLNG venture, Shell also participates in the Australian east coast domestic gas market through its wholly owned Shell Energy Australia business, which operates separately from Walloons.
Information management protocols are in place to prevent the flow of sensitive customer and marketing information between the ringfenced teams of Walloons and Shell Energy. This ring-fencing protocol allows the two entities to act independently of each other.
Update on the Heads of Agreement
Shell QGC provided the following volumes to the domestic market from 26 May 2025 – 25 August 2025.
1. Volumes committed for sale in the previous period by customer type
| Category of Buyer | Volume offered and unlifted (PJ) | Volume contracted (PJ) |
|---|---|---|
| Gas Producers | 0.1 | 0.24 |
| EOI (whole of market) | 0 | 0 |
| Commercial and industrial users | 14.38 | 0 |
| Gas retailers and gas-powered generators | 0.2 | 0.03 |
| Other gas buyers | 4.32 | 1.39 |
| LNG Producers | 0 | 0 |
| Total | 19 | 1.66 |
2. Volumes offered because of extraordinary unplanned circumstances
| Event number | Event description | Event Period | Volume offered but unexecuted (PJ) | Volume sold (PJ) |
|---|---|---|---|---|
| 1 | Unplanned extension of T2 outage | 07/06/2025 – 11/06/2025 | 0.107 | 0.544 |
| 2 | Train 2 – Full Train Trip | 13/06/2025 | 0 | 0 |
| 3 | Train 2 – half train trip due to moleseives | 15/06/2025 | 0 | 0 |
Available uncontracted gas: The Expression of Interest process
Request for Expression of Interest on Gas supply by Walloons for 1H 2026
QGC Pty Ltd (“QGC”) as manager of Walloons Coal Seam Gas Company Pty Ltd invites domestic gas consumers to provide a non-binding proposal for a potential supply of natural Gas during the period commencing from 1 January 2026 to 30 June 2026 (inclusive). This is set out in the Schedules section of the Expression of Interest (“EOI”) form, which you can download below. QGC may consider non-conforming EOI proposals at its absolute discretion.
For further details, please contact us via email at QGC-Walloons-Trading@shell.com.
Gas Market Code Compliance
This information is published in accordance with s34 of the Competition and Consumer (Gas Market Code) Regulations 2023 (“Gas Market Code”). The Gas Market Code is a mandatory industry code that regulates conduct in the east coast domestic wholesale gas market.
This table is approved by the ACCC for the purposes of section 34 (10)(b) of the Competition and Consumer (Gas Market Code) Regulations 2023
| PART A: INFORMATION RELATING TO AVAILABLE GAS AND EOIs | |||
|---|---|---|---|
24 month period start date: Refer to subsection 34(1)(b) |
1 October 2025 | 24 month period end date: | 30 September 2027 |
| AVAILABLE GAS | |
|---|---|
Volume (PJ) of that uncontracted regulated gas that the supplier intends to be the subject of a gas EOI, a gas initial offer or a gas final offer in the 24 month period Information covered by subsection 34(6)(c)(i) |
Volume (PJ) of that uncontracted regulated gas to be supplied under an agreement into which the supplier intends to enter in the 24 month period Information covered by subsection 34(6)(c)(ii) |
| 55 | 0 |
Volume (PJ) of uncontracted regulated gas that is likely to be available to the supplier in each quarter that occurs in the 24 month period starting on:
Information covered section 13 of Competition and Consumer (Gas Market Code) (Subsections 33(3), 34(3), 34(7) and 35(3)) Determinations 2023 |
|||||||||
| Year | 2025 | 2026 | 2026 | 2026 | 2026 | 2027 | 2027 | 2027 | |
| Quarter | Q4 | Q1 | Q 2 | Q3 | Q4 | Q1 | Q2 | Q3 | Period Total |
| Volume | 23 - 27 | 10 - 13 | 7 - 10 | 22 - 26 | 15 - 19 | 7 - 11 | 8 - 12 | 0 - 0 | 92 - 117 |
| EOI’s | ||
|---|---|---|
Details of each gas EOI that the supplier intends to issue in the 24 month period Information covered by subsection 34(6)(a) |
Volume (PJ) of regulated gas proposed to be supplied in accordance with the gas EOI Information covered by subsection 34(6)(a)(i) |
Period over which that regulated gas is proposed to be supplied in accordance with the gas EOI Information covered by subsection 34(6)(a)(ii) |
As at 1 October 2025, Walloons may issue EOIs for uncontracted regulated gas in the 24-month period. However details remain subject to management approval. An EOI for regulated gas supply in 2026 is intended to be issued by Walloons in Q4 2025. The volume and period over which the regulated gas is proposed to be supplied remain subject to management approval. Any potential EOI run by Walloons will be published on this Website.
|
The volume of gas which may be offered as part of any potential EOI run by Walloons is subject to management approval. Subject to management approval, Walloons intends to propose up to 20 PJ of regulated gas supply in a gas EOI for 2026 supply. Details of volumes for any potential EOIs run by Walloons will be published on this Website. |
The time period over which regulated gas may be offered as part of any potential EOI run by Walloons is subject to management approval. Subject to management approval, Walloons intends to propose up to 20 PJ of regulated gas supply in a gas EOI for H1 2026 supply. Details of the period over which the regulated gas is proposed to be supplied will be published on this Website. |
| PART B: SUPPLIER INFORMATION | |
|---|---|
| SUPPLIER | |
| Legal name | ACN / ABN |
| Walloons Coal Seam Gas Company Pty Limited | 53 130 344 366 |
| Trading name, if different to legal name |
| NA |
| Registered postal address |
| Level 30 275 George Street Brisbane City Queensland 4000 |
| Is the supplier publishing information on behalf of joint venture/s? (Y or N) Refer to subsection 44(3)(a) |
| No. Walloons is an incorporated entity responsible for aggregating and marketing all gas from the QCLNG upstream joint ventures and other sellers in the market. The participants in the QCLNG upstream joint ventures are regulated gas producers but all gas is sold to Walloons so these entities have no uncontracted regulated gas and therefore will not be offering any gas by way of EOIs, gas initial offers or gas final offers |
| If Y, provide legal name/s of joint venture/s |
| NA |
Walloons clarifications to ACCC Supplied Code of Conduct table
To better understand the information in the table, please note:
1. Available Gas
a. Clarification on information required by subsection 34(6)(b)
- The information published in this table contains forward-looking statements. The forecast represents Walloons’ reasonable assessment as at the date it was published and is subject to change because of a range of future events and risks and matters beyond Walloons’ control, including those outlined below. Walloons makes no representation that such forecasts will be achieved and potential gas customers should be aware that available uncontracted regulated gas and volumes marketed could differ materially from the range in the forecast provided.
- Under the Gas Market Code, regulated gas is uncontracted regulated gas at a time if, at that time, there is no agreement to supply regulated gas (s4(1)). A forecast of uncontracted gas that is likely to be available to Walloons therefore depends on both the available supply of regulated gas and the likely demand under existing contracts; both variables are subject to considerable risk and forecasting uncertainty.
- Volumes have therefore been provided as a range reflecting the inherent risk and uncertainty associated with supply and demand factors affecting Walloons’ portfolio. The range represents a spread between a mid-case and a high confidence forecast. A summary of the key factors impacting the availability of uncontracted regulated gas are:
- (a) Supply: Given the complexity and physical scale of the QCLNG project and other supply sources of unconventional gas, many variables can impact the volume of regulated gas available in the Walloons portfolio including reservoir performance, weather events and the effects of weather, plant and equipment outages, labour availability and productivity, access to land and facilities, availability of approvals, variable well performance, third party action, and regulatory factors. In addition, the regulated gas producers who supply regulated gas to Walloons continue to consider for approval in their discretion the development of further wells and other infrastructure and these investment decisions can impact the available volumes of uncontracted regulated gas. It is important to note that small percentage changes in upstream production can have a significant impact on the availability of uncontracted regulated gas and that this will shift on a regular basis.
- (b) Demand: Demand from the Walloons portfolio depends on the terms of existing contractual arrangements (including contracts for the supply of feedgas to the QCLNG plant) and the flexibility available to existing customers on volume and timing. The forecast has been based on an assessment of expected customer demand under these contracts, but the actual demand within the parameters of the contracts may differ materially from the forecast.
- The volumes provided have been profiled into quarters as prescribed by the Determinations, using averaging and apportionment methodologies to provide an indicative position, subject to the factors noted above. In Walloons’ internal business plans, uncontracted regulated gas is only considered on an annual basis.
b. Clarifications on Information required by subsection 34(6)(C)(i)
- Walloons has made an assessment of the volumes of uncontracted regulated gas that it currently expects to be subject of any gas EOI, gas initial offer or gas final offer or to be supplied under a new agreement. Whether and how such gas will be brought to market depends on a range of factors including the availability of regulated uncontracted gas (see note 1a), and the impact of further regulatory intervention.
- This volume includes regulated uncontracted gas that becomes available to Walloons as a result of unplanned LNG plant outages and its availability is inherently unpredictable. This gas is produced at irregular intervals and in uncertain quantities. While such gas is offered for sale through gas initial offers and gas final offers, it is not possible to plan such sales in advance, and as such cannot be assumed to be profiled in any way to the volume likely to have available that is broken down into quarters (i.e. cannot be prorated over the time frame in any way) .
c. Clarifications on information required by subsection 34(6)(c)(ii)
- Uncontracted gas will only be reported under subsection 34(6)(c)(ii) if Walloons has made a gas final offer which is in the process of being executed at the time the report is made. All other uncontracted regulated gas at earlier stages of an offer or negotiation process will be reported in subsection 34(6)(c)(i).
2. EOI
a. Clarifications on Information covered by subsection 34(6)(a)
- As at 1 October 2025, Walloons may issue EOIs for uncontracted regulated gas in the 24 month period from 1 October 2025. However details and timing remain subject to management approval.
Shell’s QGC business produces natural gas to supply the Australian domestic market and for export as LNG via a two-train LNG liquefaction plant on Curtis Island in Queensland. Shell’s QGC business is the service provider to Walloons Coal Seam Gas Company Pty Limited, ACN 130 344 366.
