Oz, Japan agree murky “market principles” for LNG (members)

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Shinzo Abe and Tony Abbott released a joint presser yesterday after their pow wow. From Platts:

Japanese Prime Minister Shinzo Abe and his Australian counterpart Tony Abbott made a joint statement Tuesday saying LNG prices should be based on “market principles” and underlining “the importance of further promotion of flexible gas markets.”

Following a summit meeting earlier in the day in Canberra, “the two leaders confirmed the continued importance of stable and secure trade and investment in liquefied natural gas (LNG) at competitive prices based on market principles, and the importance of the further promotion of flexible gas markets,” the joint statement said.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.