Australia and the U.S. will join forces to boost liquefied natural gas (LNG) exports to Asia, Australia's Resources Minister Matt Canavan has announced.
The two countries signed a deal to form partnership in spurring development of LNG import infrastructure in South and South-east Asia, during Australian Prime Minister Malcolm Turnbull's visit to the U. S. in late February, the minister said Wednesday at the Australian Domestic Gas Outlook conference.
There was capacity for Australia and the U.S. to co-operate in traditional northern markets and new opportunities further south, the minister said.
"More energy infrastructure throughout Asia, especially in gas import receiving terminals, can help grow the wholesale gas -market and create more opportunities for both of our countries," he said.
A report by Australia's Department of Industry, Innovation and Science released in January found that Australia was set to overtake Qatar as the world's biggest LNG exporter in 2018-19 before being overtaken by the U.S. in the mid-2020s.
Australia exported 52 million tonnes of LNG in 2016-17, a figure which is forecast to hit 77 million tonnes in 2018-19.