Barry Haase (Kalgoorlie, Liberal Party) Share this | Link to this | Hansard source

My question is addressed to the Minister for Industry, Tourism and Resources. Would the minister update the House on the benefits flowing to Australia’s resource sector following last week’s APEC meeting?

Ian Macfarlane (Groom, Liberal Party, Minister for Industry, Tourism and Resources) Share this | Link to this | Hansard source

I thank the member for Kalgoorlie for his question and for his ongoing support and promotion of resources not only in Western Australia but, in fact, right around Australia. Those of us on this side of the House have long recognised Australia’s potential as an energy superpower. Last week at APEC our vision was confirmed by delivering record gains to the Australian resource sector. In the space of a few days, Australia secured, collectively, contracts worth in excess of $60 billion in export income. These unprecedented results included Australia’s single largest export deal—a $45 billion agreement between Woodside and PetroChina to supply two to three million tonnes of LNG to China each year. As well, an agreement was signed between Shell and PetroChina to supply one million tonnes of LNG from the Gorgon field. Also, there was an agreement to allow the supply of Australian uranium for use in Russia’s civil nuclear power industry which will be worth hundreds of millions of dollars and save millions and millions of tonnes of CO emissions.

These contracts are tangible, practical outcomes from APEC. They underscore the high level of international confidence in Australia’s resource sector, a confidence that has been richly earned through our reputation for reliability, security and efficiency. While those opposite continue to forecast the end of the resources boom and have in fact promised to abolish one of the key components of the resources boom’s success—AWAs—the coalition is getting on with the job. We are working with industry, we are working with our trading partners and we are delivering new jobs, new investment and new opportunities for all Australians.