Australia is considering additional LNG supplies to Europe in the event of a shortage due to a possible Russian invasion of Ukraine.
This was stated by Australia’s Minister of Natural Resources and Water Keith Peet, writes The Guardian.
He added that “increasing gas exports is being studied after the United States and Great Britain expressed their concerns about dependence on Russian gas in the context of a possible Russian invasion of Ukraine.
The newspaper reported that the United States said it was working with allies and partners to prepare financial sanctions with “grave consequences” if the Russian president decided to invade Ukraine.
Australia’s Resources Minister Keith Pitt said his country was “the world’s leading and reliable source of LNG” and “is ready to assist with any request for additional supplies”.
Earlier, Britain also expressed concern about Germany’s dependence on Russian gas.
British Prime Minister Boris Johnson said that one of the main problems facing the development of a strong package of sanctions against Russia is the “heavy dependence, in particular, of our European friends on Russian gas”.
“We have to respect this, but the simple fact is that about 3% of Britain’s gas supply comes from Russia, while about 36% of Germany’s energy needs come from Russian gas,” Johnson said.
It also called on the Australian government to de-escalate tensions and “left the door open” for sanctions against Russian officials in the event of an invasion of Ukraine, the Guardian adds.
Foreign Minister Marise Payne called the sanctions a “potential tool” that Australia and like-minded countries could use “to express our serious concerns about such aggressive behaviour”.
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The US is reportedly in talks with major energy producers and companies around the world to redirect gas supplies to Europe if needed if Russia attacks Ukraine.