Putin delivers another vicious blow to Australia

The latest Russian gas deal is a huge setback for Australia's LNG industry but the Abbott government still doesn't fully understand what this means for the country.

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. 

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