A company controlled by the Chinese government has just bought up a critical Queensland gas pipeline.
The Darling Downs pipeline was bought for $392 million by Jemena, an energy company that’s majority-owned by the Chinese state. The pipeline plays a vital role in transporting gas to Queenslanders.
It is an asset that is considered integral to the region’s energy security, as power stations literally couldn’t function without it!
The news comes shortly after Chinese state-owned miner Yancoal announced it’s got the government go-ahead to buy up our most important coal export terminal, Newcastle Port.
Security experts have repeatedly warned that these kinds of deals are making Australia less safe. Handing over our national infrastructure to the Chinese means that if we were to ever to fall out with them in future decades, they could shut our economy down at the touch of a button.
The Jemena pipeline deal has now gone through but it’s not too late to block Yancoal’s bid for our port.
Rio Tinto, the company that’s trying to sell off their stake in Newcastle Port, now has to it to their shareholders, who can still vote it down.
The biggest Rio shareholders are Australian pension funds, who are owned by all us and who have to represent the views of their members.
Once it’s gone it’s gone. If you want to stop the sell-off of yet another unique national asset, click here to send them an automated email telling them why you want them to vote against.