Australia, one of the world’s top exporters of liquefied natural gas was reported to have said that it was ready to ship LNG cargoes to Europe to “support its friends and allies,” as the U.S. also looks to raise alternative gas supply in case a Russian invasion of Ukraine disrupts Russia’s gas supply to Europe.
“Australia, of course, stands ready to support its friends and allies. We have a well-developed gas resource. We have the capacity to deliver not only domestically but right across the world,” Australia’s Resources and Water Minister Keith Pitt was quoted to have said.
“We will, of course, continue to meet our contract demands for those arrangements that are already in place and deliver the domestic supply that is necessary for industry in this country and, of course, look for spot cargo opportunities elsewhere,” Pitt said.
Although there has not been any formal letter to Australia in this regard as at the time of this post, “Australia does stand ready to deliver where necessary”, quoting the Minister.
As one of the largest exporters of LNG in the world, Australia has the capacity therefore to help reduce shortages across Europe if Russia and Ukraine’s face-off intensifies. Russia has been using gas as a weapon of intimidation against Europe over a period of time.
“In the event of military action and subsequent energy sanctions against Russia, Europe would be the first and hardest hit, including in its gas supply from Russian gas monopoly Gazprom”, OilPrice.com quotes analysts as saying.
Meanwhile the U.S. Administration has been reported to be in talks with energy companies and major gas-producing countries globally about the potential for a large supply of natural gas to Europe in case Russian deliveries are interrupted. And quoting the White House Press Secretary Jen Psaki, who assured that the White House was currently dealing with the logistical challenges in its efforts to secure alternative natural gas supply to Europe.