Consumer watchdog delves into gas market

Gas industry giants will be forced to hand over information as the consumer watchdog launches an investigation aimed at ensuring Australian homes and businesses can access reasonably priced energy.

News of the Australian Competition and Consumer Commission's intervention came after Malcolm Turnbull met gas company chiefs in Canberra on Wednesday to try to resolve a looming domestic LNG supply crisis.

Mr Turnbull emerged from the meeting to say his government remained concerned exporters of east coast LNG had not articulated how Australians would get adequate supply at fair prices.

He has asked exporters to provide further information, including on possible regulatory options, to address short-term market issues.

The ACCC's three-year inquiry will scrutinise the pricing, volume and availability of domestic gas compared with gas that is being exported.

The inquiry will hold gas suppliers to account on commitments to make more gas available to the domestic market and LNG exporters on their commitment to be "net domestic gas contributors", the government says.

The watchdog will release public reports every six months on the state of the gas market, including the prices and terms on which it is being offered, with a final report due in 2020.