Australia signs energy MoU with Colombia

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Australia has signed an MoU on Bilateral Co-operation with Colombia, tying together the two nations energy sectors.

“Australia is a long term and reliable energy partner expected to become the world’s largest LNG exporter by 2020,” energy and resources minister Josh Frydenberg stated.

“With a well-established oil and gas sector, we have considerable expertise to offer the world; notably, we have produced cutting edge mining equipment, innovative technology and services firms, and we are home to some of the world’s leading universities to further research and development. “

He went on to state that Colombia is a major world producer of petroleum products.

“As it seeks to expand its hydrocarbons industry from mainly onshore heavy crude oil to include coal seam gas and offshore exploration, Australia’s extensive experience, including in mapping and exploration, will be of great assistance in meeting Colombia’s goals.

“Likewise, Australian industry will greatly benefit from increased interaction with this large potential market.”

The agreement will aid in building links between Australia and Colombia’s businesses and academic spheres, and create new opportunities.