Gas Empire: how Australians are paying for foreign profiteers
Japan and South Korea have been poured into the Australian gas industry tens of billions, while domestic supply and prices are high, while the Australian emissions were washing green. Kim Wingerei Reports.
A new report Jubilee Australia Research Center It was released at the right time to inform the public and the government about how our domestic gas industry served more to other countries than Australia.
Energy Minister Chris Bowen on July 1 announced A “Comprehensive Examination of the Gas Market Regulations to be made within the next six months.
A gas reservation policy is very important to remove the national control of our gas resources from multinational companies and foreign governments. Consumer Observer (ACCC) induced This year and next year for the east coast of Australia, a gaz worsening view için for gas resources.
The Jubilee report emphasizes how previous governments provide foreign countries effectively control the gas output and keep domestic prices high. Labor now has a chance to change it.
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Australia is the world’s seventh largest seventh product (LNG) manufacturer, but the second largest exporter. In 2023, we produced 142,000 million cubic meters and exported 73%; Japan, China and South Korea imported majority (78%).
According to the report, Japan and South Korea invested more than $ 20B ($ 31b) in the Australian gas industry between 2008-2024. Japan’s Export Credit Agency (JBIC) is responsible for 64% of which is in the majority of existing LNG projects in Australia ”.
Source: Jubilee Australia Research Center
Australia not only exported a tremendous (not taxed) amount of gas – 81 million tons or $ 91 billion (2023), but most of the gas is burned somewhere else, so Australia’s emissions are not considered negative.
According to Suhailah Ali, the main author of the reports, to add insults to the injury, “the majority of Australian LNG facilities pay copyrights, none of them pay rent taxes and pay very few company taxes.”
Gas Empire
The Japanese government is hiding behind a narrative in which gas is necessary to “keep the lights in Tokyo”. A little Furphy, Gas Japan’s imports from Australia, considering that one -third of re -exported.
For Japan, natural gas is a large, profitable business.
Both Japan and Korea, although it makes public commitments to move away from fossil fuels, continues to invest in a major investment in the removal, processing, transportation and distribution of gas. According to the Jubilee report, these countries “Asian -wide gas empire building
To ensure that the gas industry works and profits for a long time as possible.
Japanese government directives direct Japanese companies to increase overseas LNG investments to “develop Asian demand”.
A request filled by Australian gas.
When the Jubilee report has ended, “Australia, through the Clean Energy Transition Partnership (CETP), has committed its own fossil fuels abroad to end their public financing, but it still allowes and encourages and encourages gas expansion in overseas governments’ home.”
Read the entire report here.
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Kim Wingerei, a businessman returned to the writer and commentator. Passionate about free speech, human rights, democracy and policy of change. Originally from Norway, who has been living in Australia for 30 years. ‘Why was democracy broken – a plan for change’ writer.
