Australia is funnelling $80 million into gas projects in a bid to keep domestic prices down while supplies squeeze worldwide. Following its invasion of Ukraine, Russia—the world’s biggest natural gas exporter—has been sealed from international supply lines due to targeted sanctions aimed at key Russian exports. Coupled with a gas shortfall in Australia which is expected for later this year, the federal government is rushing to bring new gas into the market, including $50.3 million (US37 million) for seven infrastructure projects across Australia’s east coast and the Northern Territory, and a $32 million (US$24 million) loan to accelerate the Golden Beach project near Victoria. Energy Minister Angus Taylor said Australia was determined to ensure lower costs for households and businesses, making Europe and the United Kingdom an example of the over-dependence on gas imports. “Gas prices in the United Kingdom and Europe have increased by more than 300 per cent over …