UAE eyes strategic energy partnerships with Australia

Australia is the world's top LNG exporter, accounting for 21.3 per cent of global supply

Tug boats tow an AET Tankers Pte liquid natural gas (LNG) dual-fuelled aframax vessel near the Samsung Heavy Industries Co. shipyard in this aerial photograph taken in Geoje, South Korea, on Friday, Feb. 1, 2019. Korea Development Bank (KDB) has contacted Samsung Heavy on whether it would be interested in Daewoo Shipbuilding & Marine Engineering Co. before the bank makes a definitive decision on its stake. Samsung Heavy will review KDB's proposal for Daewoo, the company said in a text message. Photographer: SeongJoon Cho/Bloomberg
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Abu Dhabi is looking to expand co-operation with Australia, the world’s biggest producer of liquefied natural gas, following a visit by the emirate’s Department of Energy to the state of Victoria.

Strategic partnerships, particularly in optimising energy use as well as rationalising consumption would be on the agenda, according to the Abu Dhabi Department of Energy chairman Awaidha Murshed Al Marar.

Australia accounts for 21.3 per cent of global exports of the super-chilled fuel, according to the latest BP Statistical Review of World Energy. Australia overtook Qatar as the world’s top LNG exporter in December 2018. According to BP, supply growth from Australian LNG amounted to 15 billion cubic metres in 2018, outstripping the US and Russia.

Non-oil trade between the UAE and Australia reached $3.3 billion in 2017, a 16 per cent increase over the previous year, according to the UAE’ s Ministry of Economy for Foreign Trade. The two countries have also seen significant pick-up in in other sectors such as air and maritime transport.