Albanese Bolsters Asia Ties as War Spikes Global Energy Prices

SYDNEY – Australian Prime Minister Anthony Albanese heads to Brunei and Malaysia from April 14 to 17 to meet Sultan Hassanal Bolkiah and Prime Minister Anwar Ibrahim, focusing on energy and food security amid Middle East conflicts disrupting global supplies, his office announced on April 12.

As a top liquefied natural gas (LNG) exporter, Australia still depends heavily on Asia for imported fuel and fertilisers essential for its farmers. Soaring energy prices from the Middle East war have strained the region, prompting urgent diplomacy. “We are taking every step to reinforce relationships and engage with key partners to keep our fuel supply flowing,” Albanese said in a statement.

Malaysia ranks as Australia’s third-largest refined fuel supplier, while Australia provides 95 percent of Malaysia’s imported LNG. Brunei and Malaysia also deliver key fertilisers. This follows Albanese’s April 10 agreement with Singapore to ensure steady refined fuel and LNG flows from Australia’s top supplier.

National stocks stand at 38 days of petrol, 31 days of diesel, and 28 days of jet fuel as of April 11, holding firm despite panic buying spikes since the war erupted on February 28. With 57 fuel tankers en route, the government launched ads urging conservation.

Foreign Minister Penny Wong, on April 12, called for resuming Middle East ceasefire efforts and negotiations after fruitless US-Iran talks, highlighting Australia’s push for stability in vital trade lanes.