Australia

Construction of Russia's Yamal LNG facility

Construction of Russia's Yamal LNG facility  © Getty Images

A fundamental shift of power is underway in the world energy market. This is not about the transition from fossil fuels to low carbon or from high cost choices such as nuclear to lower cost gas and renewables. Even more important for producers and investors is the move from a market led by producers to a buyers’ market in which the ability to set prices and choose trading partners lies in the hands of consumers.

The latest example of this is the creation of a buyers’ group led by the three leading Asian liquefied natural gas importers. Read more

Energy policy has barely surfaced as an issue in the Australian election. Both of the main parties are committed to moving to an emissions trading system but neither seems likely to impose prices which fundamentally shift Australia’s energy mix away from hydrocarbons. The greater impact on the energy sector will come from international developments and that is where events are adding to Australia’s existing natural advantages. Read more