12:32 PM EDT, 03/26/2024 (MT Newswires) -- An executive with Exxon Mobil's ( XOM ) Australian business has warned of shrinking gas supply in the country and called for the government there to implement policies to facilitate new drilling programs and investment in the sector, according to reports Tuesday.

ExxonMobil Australia Commercial Director David Berman reportedly said during a conference in Sydney that the unit estimates a 44% reduction in gas supply available to southern Australian states by 2030 without new investments.

Berman said the Gippsland Basin assets, which Exxon Mobil ( XOM ) co-owns with Woodside Energy Group ( WDS ) , are expected to decline by 70% from 2010 levels by next winter, The Sydney Morning Herald reported. The Gippsland Basin is a major gas supplier to Australia's southern regions.

Exxon Mobil ( XOM ) did not immediately respond to MT Newswires' request for comment.

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