Japan may end up selling us our own gas
However, a gas booking policy will now not save Australia from the diabolically embarrassing scenario of having to import gas to keep the lights lit in Melbourne and Sydney.
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Understandably, Australians have difficulty dealing with the fact that we are one of the largest gases and exporters of the world, yet we face a lack of gas in the corner of the south-east of the highly populated nation.
The production of gas fallen in this part of the country, combined with the lack of ability to tubular additional gas from abundant regions such as Queensland, means that the governments of the new South Wales and Victoria must now work to find the best way to import the GNL before the gap between supply and demand becomes a permanent problem later in this decade.
To be honest with energy groups such as WoodSide and Santos, this situation is largely reduced to the type of bad development policy by the governments they have complained of for a long time.
However, now we are in a link – and the best immediate solution, ironically, for us as a gas export nation is to create a GNL import terminal and start buying things.
The most likely agreement will be made directly with local operators such as WoodSide Petroleum from its WA operations, but the giants of the gas face an unusual rival.
There is a supplier who has built a significant industry around GNL exports within Southeast Asia: Japan. Yes, the largest customer of Australian GNL.
After the Fukushima nuclear power plant was submerged by a tsunami in 2011, Japan has turned into gas to replace its closed nuclear power plants and signed long -term supply contracts from countries including Australia.
Within a few years, however, Japan began to change its nuclear power plants. The overall energy consumption has also decreased due to its falling population and the developments of green energy have cut its demand for gas.
Although he said to Australia in 2023 that the “Tokyo lights” would come out if Australia torn the long -term supply contracts, the experts say that Japan is now exporting the equivalent of what acquires from Australia in other countries.
Japan now matters much more gas than it needs to “keep the lights on in Tokyo”.Credit: action
In simple terms, Japan now uses only two thirds of the GNL that he acquires from countries such as Australia and Qatar. The rest is sold to other countries.
Bloomberg He noticed that Japanese companies have generated profits of about $ 14 billion ($ 27 billion) over the year March 2024 by this GNL ecosystem, which develops gas infrastructures and exchanged goods.
If the lights are at risk of going out to Sydney and Melbourne, Australia will surely find an incident ear in Tokyo.
