The report found that gas exporting and large consuming countries have a mutual interest in developing markets for natural gas, to ensure greater efficiency of gas transport, trade and consumption. It states that, there are substantial opportunities to grow gas in the APP partner economies, and that the growth of gas in a country’s energy mix will have a positive impact on energy security, greenhouse gas emissions and air pollution.

The report also found that greater levels of regulatory certainty in importing countries would encourage large scale projects to move forward, and that domestic gas market growth should be underpinned by government policies and regulation that support market development and provide an environment of certainty.

Key focus areas for energy policies are to provide clarity around the cost of carbon emissions and to clearly articulate the preferred energy mix for respective countries.

APPEA Chief Executive Belinda Robinson said “APP is an innovative effort to accelerate the development and deployment of clean energy technologies. The seven members of the partnership – Australia, Canada, China, India, Japan, Republic of Korea, and the US – have agreed to work together to meet common goals.

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“The Asia-Pacific Gas Market Growth Project makes a major contribution to the overall objectives of the APP – to promote energy security, a reduction in national air pollution and climate change in ways that promote sustainable economic growth and poverty reduction,” said Ms Robinson.

“Australia’s natural gas industry is a good news story, not only for Australia, but for the entire Asia Pacific region.”