Energy giant Santos has pledged to divert gas slated for export into Australia's east coast market over the next two years, seeking to avert government-imposed restrictions on gas exports to solve local shortages.

The 30 petajoules of gas diverted from its Queensland-based Gladstone LNG plant would be sold to east coast customers, including power companies, and would be enough to power 330,000 homes over the two-year period, Santos CEO Kevin Gallagher said in a statement to the sharemarket.

"Over the last few months, Santos has been working constructively with the federal government and our [Gladstone LNG] partners to supply additional gas to the east coast domestic market," he said.

The move comes as the federal government is considering intervention in the gas market to increase supply, including restricting the amount of gas that companies such as Santos can export.