A trade deal with Singapore may be on the cards for Australia after Anthony Albanese announced he was heading to the island country this week to meet with his Singaporean counterpart, Lawrence Wong.
Mr Albanese told reporters on Tuesday the meeting between the two leaders, which had been moved earlier than first planned, would advance discussions on securing trade in petrol, diesel and liquefied natural gas.
He said: “Singapore is Australia’s largest two-way trade partner and investor South-East Asia, and one of our closest strategic and economic partners.
“The visit follows Australia and Singapore’s joint commitment to keep fuel between both countries and to work together to strengthen energy supply-chain resilience.
“Together, we share concern over the situation in the Middle East, including the consequences for both of our nations.
“We share a deep strategic trust. I regard Prime Minister Wong as a friend of Australia, and the fact that we have reconstituted these annual leaders’ meetings is very important.”
Singapore supplies more than half of Australia’s petrol supply and about 15 per cent of the nation’s diesel supply, while Australia is Singapore’s second largest supplier of liquefied natural gas.
‘Mixed messages’ as Labor pushes back on rationing claims
Earlier, Attorney-General Michelle Rowland said the government was not considering fuel rationing and supply deals with key Asian trading partners were secure.
“We are not considering that (rationing), we are focused on security of supply,” she told Seven’s Sunrise.
“We did have security of supply until April, that has now been extended to May.”
Of 81 oil shipments scheduled to arrive in Australia in April, six were cancelled earlier this month, but ultimately replaced with an additional three shipments; all scheduled to land in April and May, the Energy Minister Chris Bowen told parliament.
The government has also cut the fuel excise, and over the Easter weekend the demand for unleaded petrol began to normalise after a rush of panic buying, though diesel shortages are still heightened across the country, particularly in NSW.
Ms Rowland said locking in supply deals is a priority before rationing would ever be considered.
“Every ship that was supposed to arrive has arrived,” she said.
“We know that by shoring up arrangements with some of our closest trading partners in this area, including Japan and Singapore; they are the best ways that we can continue to ensure that we have that security of supply.”
But speaking to Sky News on Tuesday, Nationals leader Senator Matt Canavan said the government was sending mixed messages.
“If what Chris Bowen has said over Easter is right, that fuel supplies are good for the next month or so – Why did the Prime Minister address the nation … it just doesn’t seem to add up here,” he said.
“The Prime Minister thought it is so important to do a national broadcast, (which has) only been done a handful of times in our generation. Yet, only days later, his Energy Minister is saying everything is fine.
“I just still get this distinct impression the government is not being upfront with us about exactly what the risks are.”
Amid rising numbers of service stations in WA running dry, the state government last week enacted emergency powers forcing the fuel companies to hand over commercially sensitive distribution data.
The NSW government took a similar approach the week before, establishing a Liquid Fuel Emergency Operation Centre – to keep tabs on which service stations are empty, and ensure farms, mines and construction sites get the fuel they need.
