PERTH (miningweekly.com) – Australian Resources Minister Keith Pitt has volunteered Australia’s supply of liquefied natural gas (LNG) to struggling European nations.
In a press conference this week, Pitt said that Australia stood “ready to support its friends and allies” as tensions soared in Europe over the conflict in the Ukraine, and energy security concerns rose in the region.
“We have the capacity to deliver not only domestically but right across the world. We will, of course, continue to meet our contract demands for those arrangements that are already in place and deliver the domestic supply that is necessary for industry in this country and, of course, look for spot cargo opportunities elsewhere,” Pitt said this week.
“Now we have not received any formal requests for us to deliver that gas to any other locations. But, of course, Australia does stand ready to deliver where necessary. It is the fact of the matter, it is our reliability, it is the fact that we have supply chain that is ready and available, it’s the fact that this government continues to invest in gas and onshore resources, including through strategic basin plans, including through supporting companies like Woodside and Santos who have made significant investment decisions.”
Pitt used the opportunity to call on banks and lending agencies to reconsider investments in the resources sector, saying it was necessary to ensure that supply chains were kept alive and that there was a pipeline of future projects.
“As we all know, gasfields do expire. They come to the end of their natural life and they need to be replaced. That’s why we’re investing in places like the Beetaloo basin through the Strategic Basin Plan. That is why we’ll continue to support the sector, because it is so important for our national interest,” the Minister said.
“I’d say again to Australian banks and Australian financiers and Australian suppliers of insurance, this is why I want you to reconsider the decisions you’ve made previously about providing finance to Australia’s resources sector. It’s incredibly important not only for our national security and for jobs of all Australians, but it’s also incredibly important for our international ties, our trade opportunities and our existing contracts with like-minded countries.”