Anthony Albanese has announced a new agreement aimed at boosting Australia’s fuel supply, with a focus on easing pressure in regional areas.
Speaking at Ampol’s Lytton refinery in Brisbane on Thursday, Albanese said the deal between the federal government, Ampol and Viva Energy would allow the companies to import fuel from countries they do not usually source from.
The agreement, brokered through Export Finance Australia, is intended to increase supply by enabling the country’s two largest fuel suppliers to bring in additional fuel.
“Today, I can announce that Export Finance Australia have agreed to terms with our two largest suppliers, Viva Energy, of course, based in Geelong, and Ampol, based right here, to enable them to bring more fuel to Australia,” Albanese said.
“This is not business as usual. Importantly, this is additional supply here in Australia that they will be able to source.”
Under the agreement, the government will also have the ability to direct where the additional fuel is distributed.
“As part of this agreement, of course, the government can direct where that supply goes, particularly going to regional Australia and areas that are under pressure in terms of supply,” Albanese said.
The Prime Minister did not specify which countries would be targeted for imports, although the federal government has previously ruled out sourcing fuel from Russia.
He said global conditions, including conflict in the Middle East, would continue to affect supply chains.
Albanese warned it would take time for the situation to stabilise, even if conditions improve.
He is now travelling to Singapore to pursue further fuel supply agreements.
Image: The Morning Show
