While the focus of Australian attention on APEC was all about whether Tony Abbot would shirtfront Russian President Vladimir Putin over the Ukraine, in fact, it was Putin who delivered a vicious uppercut to Tony Abbott. It was a blow that will set future Australian LNG projects back a decade or two. This follows Putin’s earlier dairy blow to Australia.
LNG has been a major driving force behind the mining investment boom. At the start of APEC, Russia announced that it has reached a basic agreement with China to expand and accelerate the supply of gas from Siberia.