LNG prices discussed at Japan, Australia PMs meeting

Following a meeting between Japanese PM Abe and his Australian counterpart, a joint statement was issued covering the discussed topics, one of which was the LNG demand and supply between the two countries. 

Tony Abbott, Australian PM stressed the fact that Japan and Australia have strengthened their economic and defense ties by signing the first free trade agreement.

Platts reports that, besides other topics, both parties underlined the importance of further promotion of flexible markets and that both leaders confirmed the continued importance of stable and secure trade and investment in LNG at competitive prices based on market principles.

Following the 17,92 million mt of LNG exported to Japan in 2013, making it Japan’s largest LNG supplier, Australia’s place in the future is that of Japan’s most important suppliers due to Japanese continuous investment in LNG following the 2011 disaster.

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LNG World News Staff, July 8, 2014; Image: gov.au