EnergyQuest CEO Graeme Bethune says he doesn’t think Australia would be a “major solution” to Europe’s gas supply in the event of Russia invading Ukraine.
A quarter of Europe’s gas comes from Russia, with 80 per cent of it coming from pipelines across Ukraine.
“I don’t think Australia would be a major solution, most of our LNG gas … goes to North Asia,” Mr Bethune told Sky News Business Editor Ross Greenwood.
“If European prices spiked up over Asian prices, $2-$3 higher, you could see some Australian cargo sent to Europe.
“But I don’t think it would be a large thing.”