New Australian Prime Minister Malcolm Turnbull has unveiled his new cabinet, appointing former Assistant Treasurer Josh Frydenberg as federal minister for resources, energy, and Northern Australia.
The move resurrects a dedicated energy and resources portfolio that was absent from the cabinet of recently deposed Prime Minister Tony Abbott. Instead Abbott incorporated the role in the industry portfolio, although the minister concerned, Ian Macfarlane, was a long-time resources industry minister and opposition energy spokesman in previous governments.
Frydenberg is a former lawyer and policy advisor to former Liberal Party leaders John Howard and Alexander Downer. His appointment to the resources and energy portfolio is seen as heralding a new era and significant change in the sector.
His task ahead will be in progressing reforms, particularly in regard to the transition to cleaner energy systems.
With much of the accent in Australian projects on LNG, Frydenberg is described as having the economic credentials to take the gas industry and gas market in particular through the next challenging phase of development.