The agreement, signed by Mr Morrison and LNG exporters Australia Pacific LNG, Queensland Curtis LNG and Gladstone LNG, aims to ensure more gas is offered to the domestic market, more often, and on more competitive terms.
It will also aim to secure competitively-priced gas supply for the east coast market at least until 2023.
Mr Morrison said cheaper and more reliable energy was central to Australia's economic recovery and the government's JobMaker plan.
"Gas is critical to our economic recovery and this agreement ensures Australian businesses and families have the gas supply they need at the cheapest possible price," the Prime Minster said.