Posted May 28, 2014 12:47 am by Comments

According to the Sydney Morning Herald (“Russia’s mega gas deal with China bad news for Australia“), the huge Russia-China gas deal is a blow to the possibility of Queensland’s major gas export projects to further expand with specialist gas industry consultant Graham Bethune of energy advisory firm EnergyQuest being quoted as saying:

“We can’t afford to underestimate the significance of last week’s development for the Pacific gas market with Russia entering that arena in a major way China. The negative impact for Australia’s [liquified natural gas] competitiveness and future market share from this new market dynamic is serious.”

And:

“This deal has the very real potential therefore to be a game-changer in Australia’s key LNG market. To have any chance of seizing and participating in the next wave of LNG developments, Australia can no longer rely therefore on ‘being first in the queue’.”

It should be noted that Russia has the world’s largest gas reserves and is the world’s largest gas exporter, but it mainly supplies the European market right now with only small volumes sold to Asia.
To read the whole article, Russia’s mega gas deal with China bad news for Australia, to to the website of the Sydney Morning Herald.

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