**Check against delivery
Ladies and gentlemen,
I'm pleased to be here in Dandenong for this important signing ceremony between BOC Limited and APA Group.
This contract continues the strong relationship between these two companies and will see the creation of a new liquefied natural gas (LNG) refuelling facility.
Today sees even greater co-operation between BOC - one of Australia's most important suppliers of gas, and APA - Australia's largest gas infrastructure business.
Up to 100 tonnes a day of LNG will flow to a truck re-fuelling terminal, expanding on the current arrangements for bulk loading.
This long-term contract increases the commercial availability of LNG in Victoria, in the same way that BOC's recent agreement with BG (formerly the Queensland Gas Company) has done in Queensland.
From the north and from the south, the transport industry will have more options for re-fuelling through a network of stations for trucks converted to run on LNG.
This is more than just a new business opportunity - it's a new industry.
It's the first real alternative to diesel for the heavy transport sector.
Competition is always a good thing and LNG will now be able to compete with diesel on price, performance and environmental emissions.
LNG is coming of age as a transport fuel.
Trials show today's best natural gas vehicle technology can burn gas cleanly and efficiently.
And LNG is cost-competitive with diesel too, particularly when diesel prices are high.
It is very important to recognise that prices for LNG are likely to remain more stable than for imported products.
Australia needs a range of alternative fuels and vehicle technologies too for energy security and to reduce urban air pollution.
And we need to minimise our reliance on imported oil.
Australia presently has a $16 billion trade deficit in crude oil, refined products and LPG, and that could grow to $30 billion by 2015.
But Australia is a gas-rich nation.
We have sufficient known conventional natural gas reserves to meet demand for at least 63 years, and coal seam gas reserves for around 100 years.
I'm confident we can achieve the twin goals of becoming one of the world's leading LNG exporters while ensuring the long-term supply of gas at competitive prices for domestic users.
The Australian Energy Resource Assessment shows gas will play a bigger role in the domestic energy market, with gas accounting for a third of Australian primary energy consumption by 2030.
Both APA and BOC are well-positioned to benefit from the future growth of Australia's gas industry.
BOC, for instance, is on track to become the first company in Australia to produce LNG from coal seam gas.
And with around ten million vehicles worldwide fuelled by natural gas, a network of re-fuelling stations along the east coast of Australia can be a model for others to follow.
Conclusion
Ladies and gentlemen, LNG is a logical, clean alternative fuel for the heavy transport industry in Australia.
This contract is good for jobs, good for investment in alternative fuels and good for competition.
I hope to see more like it in the future.
Thank you.