Trade Minister, Mark Vaile, has welcomed today's announcement by Australia LNG Pty Ltd of its understanding reached with Tuntex Gas Corporation of Taiwan concerning supply of LNG from Australia from 2003. "The understanding, that could lead to Taiwan taking as much as 4 million tonnes a year of LNG, has set the stage for Australia to become the preferred supplier of LNG to East Asia," Mr Vaile said. Mr Vaile said that Taiwan could become the second major market after Japan for Australian LNG. Mr Vaile said the Federal Government had worked closely with the Australian LNG industry to pursue commercial opportunities in the region, and today's announcement followed a successful meeting on November 11 in Taipei of the Australia-Taiwan Business Council with its counterpart organisation in Taiwan. Mr Arthur Dixon, President of Australia LNG, and Senator Ron Boswell, Parliamentary Secretary for Transport and Regional Services, both gave key-note addresses at the meeting on the future of Australia's economic relations with Taiwan. The meeting also announced the appointment of Mr Ian Sinclair to succeed Mr Maurice Newman as Chairman of the Australia-Taiwan Business Council.
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