Australia’s biggest liquefied natural gas producer said Asian demand for “democratic” gas had risen following Russia’s invasion of Ukraine and called on Canberra to speed up approvals of domestic projects.
Meg O’Neill, the chief executive of Woodside Petroleum, said the LNG market had “changed tremendously” since Russia invaded Ukraine and the west imposed sanctions on Moscow, forcing countries to look for alternative sources of energy.
O’Neill said Australia would not replace Russia as a gas supplier to Europe given the high cost of sending LNG tankers that distance. But she said increased demand for non-Russian sources of gas in Europe was reorganising supply chains, increasing Asia’s reliance on nearby Australia for LNG.
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