Australia has the fastest growing liquified natural gas (LNG) industry in the world and is on track to eclipse Qatar as the world’s largest producer by the end of the decade. It is, therefore, ideally positioned to fill much of the energy void in Japan if that country reduces its use of nuclear energy in the aftermath of the crisis at the Fukushima Daiichi nuclear plant.
The Tokyo Stock Exchange’s benchmark Nikkei 225 rebounded to close up 5.7% Wednesday, as hedge funds rushed to cover short positions after the worst two-day fall since the great crash of 1987. Western markets were down today as they learned that a second reactor unit at the stricken Fukushima Daiichi nuclear plant may have ruptured and vented radioactive steam.
The Japanese nuclear nightmare prompted more selling on the world’s stock markets today, after the Nikkei 225 index on the Tokyo exchange closed down 10.56% today (Tuesday). In Germany, the government announced today it will shut down seven of the country's oldest nuclear reactors for three months as part of a safety review.