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Limited Time for U.S. to Purchase Australian LNG

Australia’s Resource Minister Ian Macfarlane says the growing opposition to LNG development in California may cost the United States an opportunity to acquire LNG shipments because other countries are buying Australian supply. Macfarlane says that prices
January 9, 2006

Australia’s Resource Minister Ian Macfarlane says the growing opposition to LNG development in California may cost the United States an opportunity to acquire LNG shipments because other countries are buying Australian supply. Macfarlane says that prices are double what they were when Australia first approached California. “At current prices…you could sail an LNG cargo twice around the world and still make a profit,” he said. The Australian today reports that MacFarlane plans to meet with U.S. Energy Secretary Samuel Bodman tomorrow to discuss supply issues and greenhouse emissions.

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