Australian Prime Minister Albanese will visit Brunei and Malaysia this week, aiming to secure a stable fuel supply for Australia from Asian allies after supply disruptions caused by conflict in the Middle East.
According to foreign media reports, Albanese's office issued a statement on the 12th, announcing that he will travel to Bandar Seri Begawan and Kuala Lumpur from April 14 to 17.
During the visit, Albanese plans to meet with the Sultan of Brunei, Hassanal Bolkiah, and Malaysia's Prime Minister Anwar. Foreign Minister Penny Wong will also accompany him and hold meetings with her counterparts from Brunei and Malaysia.
Albanese said: “Engaging with key regional partners such as Brunei Darussalam and Malaysia will help ensure the stability of Australia’s energy supply during uncertain times. We are taking all measures to strengthen bilateral relationships and work with key partners to keep fuel supplies flowing.”
This visit comes as the Middle East conflict has led Iran to shut down the Strait of Hormuz, through which about 20% of the world's oil and gas was transported prior to the conflict. Australia relies on imports for around 80% of its fuel. Since the strait’s closure, there have been local shortages and a surge in prices within Australia, making the country increasingly reliant on Asian allies to maintain its fuel supply.
In terms of energy cooperation, Malaysia is Australia’s third-largest source of refined fuel and supplies 10% of Australia’s fertilizer-grade urea imports. At the same time, Australia supplies 95% of Malaysia’s imported natural gas. Brunei also plays an important role, supplying 9% of Australia’s diesel imports and 11% of its fertilizer-grade urea imports.