Anthony Albanese assures Japan that Australia remains ‘absolutely reliable supplier’ of gas

Prime Minister Anthony Albanese has been forced to assure Japan that Australia remains an “absolutely reliable” supplier of gas amid ongoing concerns the Government’s policies threaten supply.

Mr Albanese held talks with Japan’s new prime minister Shigeru Ishiba before departing Laos after an “extremely productive” two days of meetings on the sidelines of the ASEAN summit, which was headlined by an agreement from China to drop its ban on live rock lobster imports.

The Prime Minister dismissed suggestions lifting the lobster ban was part of any wider deal with Beijing, including potential entry into the CPTPP regional trade pact, declaring: “I don’t engage in a transactional way”.

“You know what China gets out of getting our live lobsters? Our live lobsters, they’re pretty good.,” he said.

“And this is a win-win. It’s a win for our producers, who get an export to China, and it’s a win for the consumers of China.

“I think we have the best products in the world. One of my jobs at these forums is to promote that.”

Japanese political and business leaders have repeatedly raised alarm at the Labor Government’s interventionist gas policies — including the price cap and safeguard mechanism — amid fears it could threaten supplies.

About 40 per cent of Japan’s LNG is imported from Australia.

Asked if Japan had reason to be concerned, Mr Albanese said: “We are absolutely reliable suppliers”.

“Australia has always been a reliable energy partner,” he said, noting attention was turning to new energy opportunities such as green hydrogen.

Mr Albanese also had a “really good meeting” with South Korea president Yoon Suk Yeol, whose country is also heavily reliant on Australian gas exports.

Mr Ishiba has previously championed the concept of an Asian equivalent to NATO — the North America-Europe security alliance underpinned by the principle that an attack on one member is an attack against all of them.

An Asian version would deter China from invading Taiwan, Mr Ishiba has argued.

The idea has fallen flat with ASEAN nations — some of which are aligned with Beijing — and doesn’t even have support from Taiwan.

Mr Albanese played down the idea, arguing there were already “security arrangements” in place in the region.

That includes the Quad, which comprises Australia, the US, Japan and India.

The Prime Minister on Friday attended the high-powered East Asia Summit alongside leaders and senior political figures from 17 countries, including the US, China, Russia and India.

Mr Albanese was seated between Philippines President Ferdinand “Bongbong” Marcos and Chinese Premier Li Qiang, whose two countries are locked in an ongoing dispute about Beijing’s incursions into the South China Sea.

In his contribution to the summit, Mr Albanese voiced Australia’s concerns with China’s maritime behaviour, the wars in Ukraine and the Middle East and the ongoing crisis in Myanmar.

Earlier, Mr Albanese used a speech to business leaders to spruik the progress in implementing the Government’s 2040 strategy to boost trade to Southeast Asia.

The “Invested” strategy — developed by Australia’s special envoy for South Asia and former Macquarie Group boss Nicholas Moore — made 75 recommendations to unlock new economic opportunities in a fast-growing region that attracts a measly four per cent of Australia’s overall international trade.