On behalf of the Australian Government, thank you to the organisers of 11th LNG Consumer Producer Conference for this opportunity.

I am Madeleine King and I am Australia’s Minister for Resources and Northern Australia.

Australia accounts for about one fifth of global LNG exports and Australia is proud of its reputation as a trusted and reliable energy exporter.

It is a reputation earned due to our numerous competitive advantages, including:

• our reliability – Australia is a stable, low-risk investment environment with a business culture of delivering as agreed;
• our ingenuity - Australia’s gas industry is renowned for its best-practice health and safety solutions that support productivity;
• our proximity to emerging and established markets in Asia which means cheaper and faster transport, and;
• our willingness to work with our regional partners to address their energy needs.

Our gas exports underpin our nation’s energy security, and contribute to our economic prosperity. The Australian Government recognises the critical importance of Australia’s LNG to the energy security of other nations, such as Japan.

Gas is also going to be vital in our transition to net zero.

It is less emissions intensive than other fossil fuels and can be used to boost the reliability of an electricity grid increasingly powered by renewables.

LNG can assist countries to decarbonise their energy sectors, both as a lower emissions fuel and as a supporting technology for the deployment of renewable energy.

LNG promotes energy security by enabling countries to make greater use of the renewable resources – sun, wind, and water – within their borders.

However, like many countries in this time of tight energy markets, Australia faces challenges in ensuring adequate gas supply on its heavily populated east coast.

Gas users on the east coast are becoming increasingly concerned about their access to affordable, secure and reliable gas.

The Australian Government must address these domestic concerns.

But in doing so, we are committed to maintaining our reputation as a reliable supplier to our trading partners, including with our very great friend Japan.

Let me say something that almost goes without saying. Australia values its strong and enduring relationship with Japan. Our two countries have had a highly-complementary relationship in the energy and resources sector for decades.

We appreciate how Japanese demand and its significant capital investment has underpinned the development of Australia’s LNG industry.

Japan has been a leading investor in Australia’s LNG export industry since the 1980s. Japan received Australia’s first LNG export cargo in 1989.

In return, Japan regards Australia as a favourable resource supplier due to our reliability, our geographical proximity and low sovereign risk.

And both Australia and Japan have stated our commitment to achieve net zero greenhouse emissions by 2050.

As the largest supplier of LNG to Japan, Australia can support Japan’s decarbonisation agenda and energy transition by being a reliable supplier of energy for years to come.

Australia is interested in partnering with Japan on the Asia Zero Emissions Community (AZEC) initiative being led by Prime Minister Kishida.

We want to partner with Japan to build energy supply chains to support decarbonisation in the years ahead.

Australia and Japan are natural partners on new low emissions technologies, including:

• the development of hydrogen as a new source of energy;
• carbon capture and storage; and
• the development of critical and battery minerals crucial to low emissions technologies such as electric vehicles.

One of my priorities as Minister for Resources of Australia is to visit our trusted trading partners. Japan is a key destination for me and one I would like to visit soon.

Our message is clear.

Australia will remain a key supplier of energy and gas to Japan and the world.

And Japan will remain a significant partner to the Australian LNG industry for many decades to come.

Australia remains committed to being a reliable supplier of energy and resource products. Our goal is to work with our regional partners as we all work together towards net zero emissions by 2050.

Thank you again and enjoy the conference.