Today’s east coast gas price still sits comfortably above Albo’s price cap joke:
As a direct consequence, the largest non-war energy shock in Australian history is exploding higher:
Yet, all our media has to say is that Japan is upset:
Japan would be weakened economically and strategically, and Australia’s reputation as a reliable energy supplier would be shattered, if export gas was redirected to the domestic market as the Greens are demanding, Tokyo’s former top envoy to Canberra says.
Shingo Yamagami, who spoke out against “energy nationalism” during his tenure as Japanese ambassador between 2020 and 2023, said he was alarmed at growing calls by the Greens for Australia to breach gas export contracts rather than develop new gas fields to meet domestic demand.
If you will pardon the expression, fuck Japan.
What kind of an ally and friend so rorts the energy from another that its economy dies? Where is the resources nationalism in preventing that?
Japan is on-selling to other countries about 30mt of LNG per annum, which is roughly 1600Pj:
Australia’s east coast only needs to find about 200Pj to solve all its energy problems.
Most of the Australian exports of LNG to Japan sail from the west and north coasts but Japan also takes 80-100Pj of gas out of the east coast.
Reserving that alone would solve our problems for a decade and potentially forever:
LNG contracts are broken all of the time. Force Majeure covers government intervention and means no legal clawback.
The amount Australia needs versus export volumes is tiny.
Japan should shut up.
