Speaking at the Australia-Japan Joint Business Conference in Sydney yesterday, Voelte said the two countries have a “special” relationship, but warned “global forces” could see the Asian country become a victim of its own success.

Voelte said Japan faces competition “as never before” from buyers like South Korea, China, India and the United States that look to Australia for energy supply.

“From infrastructure to financing to governance, these markets are adapting their capacity and capability to do business with us,” Voelte said.

“Even so, Australian companies – including my own – have turned to Japan for strategic energy development opportunities.

“Speed, nimbleness and decisiveness are needed for Japanese companies to capture Australia’s energy development opportunities and to stay ahead of the competition and to maintain their special place in Australia’s economic growth.”

Voelte said Japanese companies Tokyo Gas and Kansai Electric’s equity involvement in Woodside’s Pluto project showed the special relationship between the two markets.

“This ‘first-mover’ position is where Japan can retain its competitive edge with Australian energy suppliers, leveraging off their established positions to create new business opportunities, which benefit both of us,” he said.

“Failure to do so, particularly in these times of growing energy demand, will result in others seizing the moment.”

Voelte also told the conference Australia needs to continue expanding its energy sector at the pace of the last 30 years to meet at least part of the Asia-Pacific’s growing energy demand.

“We must continue to promote investment and to deliver projects and products on time and reliably,” he said.

“Our governments must provide the right incentives and send the right signals to cement investor confidence.

“And, most importantly, we must never take each other for granted.”