The BIG Loser in the Russia-China Gas Deal? Australia (SMH)
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.”
“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’.”
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