Australia and Japan will face both challenges and opportunities in maintaining a secure relationship in the changing LNG industry, according to sentiments expressed at the 45th Japan-Australia Joint Business Conference in Tokyo.
The prediction came from the Woodside Energy managing director and CEO Don Voelte as he addressed attendees at the event, with the relationship between the 2 countries playing a crucial role as Japanese utilities are the biggest supporters of Australia LNG projects.
While Japan is Australia’s biggest coal export market with sales of approximately $8.8bn a year and the second biggest uranium export market with 2,700 tpy, more than 88% of Australian LNG exports in 2006 went to Japanese markets.
Voelte commented, “Japanese sales contracts underpinned the development of the North West Shelf, and will continue to be the dominant destination for our product for at least the next 10 years.”
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