Prime Minister Malcolm Turnbull says imposing export restrictions on gas will halve electricity prices and save 65,000 jobs.  Opposition leader Bill Shorten says the government's claims are a lot of "hot air".

Most of Australia's liquid natural gas (LNG) production goes overseas, and states have bans in place on exploration for new sources.  The government wants to have new restrictions in place by 1 July so that the local supply is increased, which is hoped to bring down domestic prices.

"The longer term solution is more gas.  In the short time I have to protect Australian jobs," said Mr. Turnbull.  "In Victoria, where there is a huge amount of gas, you have a Labor government, which will not allow even conventional gas exploration and development."

Bill Shorten says the PM has wishes but no actual evidence that prices would be reduced by 50 percent come July.  "If Mr. Turnbull's promised Australians that gas prices will halve, I want to hear that promise from the gas companies," he said.  "Without the gas companies confirming that, what Mr Turnbull is saying is just hot air."

Gas producer Santos released a statement saying it will seek clarification of the new rules: "Santos will work collaboratively with government and its joint venture partners to ensure an outcome in the best interests of its shareholders."