Export tax push runs out of gas as budget hopes dashed

Gas exporters won't be hit with a new levy at the May budget, according to the government. (Lukas Coch/AAP PHOTOS)

Existing gas export contracts will not be hit with fresh taxes when the federal government hands down its May budget, despite an intense campaign for the move.

But Prime Minister Anthony Albanese didn't rule out the possibility that future gas projects could be impacted by new levies.