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Journal of Australia-China Affairs 2014

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government for a better development environment. 68 All LNG operating companies in <strong>Australia</strong> are APPEA members, but as <strong>of</strong> yet there has been no participation from Chinese companies. 69 In 2016, APPEA will support the 18 th International Conference & Exhibition on Liquefied Natural Gas (LNG18) in Perth, the most significant global LNG event. This will be an invaluable platform for Chinese oil and gas players to gain up-­‐to-­‐date industrial knowledge, and seek potential investment opportunities in <strong>Australia</strong>. 70 It would be beneficial for Chinese companies to become full members <strong>of</strong> APPEA, as well as take advantage <strong>of</strong> APPEA’s events. Other bilateral organisations can aslo be supportive. For example, the <strong>Australia</strong>-­‐<strong>China</strong> Young Pr<strong>of</strong>essionals Initiative (ACYPI) invited CNOOC <strong>Australia</strong> to deliver a seminar on the <strong>Australia</strong>n LNG industry in Perth in December 2013. 71 Many attendees were young legal and commercial elites working in <strong>Australia</strong>-­‐<strong>China</strong> energy collaboration. Education and Training: the Cradle for Future Pr<strong>of</strong>essionals The <strong>Australia</strong>-­‐<strong>China</strong> Natural Gas Technology Partnership Fund seeks to provide scholarships, training opportunities, research projects, and technology transfer between <strong>China</strong> and <strong>Australia</strong> on natural gas and LNG. 72 The <strong>Australia</strong>n Training Centre aims at providing up-­‐to-­date natural gas (including LNG) training programs for senior <strong>of</strong>ficers from both Chinese oil and gas companies and the Chinese Government. 73 Conclusion and Future Outlook <strong>Australia</strong> is a traditional investment destination for Chinese capital, and three Chinese NOCs have been involved in both conventional and unconventional gas-­‐to-­‐LNG projects via equity interest acquisition and LNG SPA, to meet <strong>China</strong>’s rapidly growing demand for natural gas. Since LNG projects are based on multi-­‐billion dollar investments and carry a number <strong>of</strong> risks, Chinese companies need to pursue deeper insights into and presence in the <strong>Australia</strong>n investment climate through multiple approaches. The <strong>Australia</strong>n Government should be expected to modify certain policies that may prevent Chinese ODIs into <strong>Australia</strong>, and potentially weaken its leading position in the global LNG export industry. FLNG is very competitive, and should be prioritised by companies. Every participant in the LNG industry should cooperate together to ensure that <strong>Australia</strong> becomes the gas hub <strong>of</strong> <strong>China</strong>, and implement effective measures to resolve any challenges. 68 APPEA, ‘What We Do’, <strong>2014</strong>, http://www.appea.com.au/what-­‐we-­‐do/. 69 APPEA, ‘Members’, <strong>2014</strong>, http://www.appea.com.au/about-­‐appea/members/. 70 LNG 18, ‘About LNG 18’, <strong>2014</strong>, http://lng18.org/about-­‐overview.php. 71 ACYPI, ‘Perth-­‐Powering the Asian Century: A Supply and Demand Equation’, 29 November 2013, http://www.acypi.org.au/2013/11/29/perth-­‐powering-­‐the-­‐asian-­‐century-­‐a-­‐supply-­‐and-­‐demand-­‐equation/. 72 <strong>Australia</strong>-­‐<strong>China</strong> Natural Gas Technology Partnership Fund, ‘Funding Opportunities’, <strong>2014</strong>, http://forum.gasfund.com.au/site/Opportunities.html. 73 <strong>Australia</strong>-­‐<strong>China</strong> Natural Gas Technology Partnership Fund, ‘The <strong>Australia</strong>n Training Centre’, <strong>2014</strong>, http://forum.gasfund.com.au/site/Training.html. 36 JOURNAL OF AUSTRALIA-­‐CHINA AFFAIRS

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