This bilateral discussion will be held between the Australian Department of Resources, Energy and Tourism and the U.S. Department of State, and the first half of 2013 is a target date for the first round.

Ferguson met U.S. Secretary of State Hillary Clinton in Adelaide on Thursday and discussed the importance of global and regional governance architecture that supports reliability and security of competitively priced supply for resources and energy importers, and creates a framework for the participation of emerging economies.

They also concluded both Australia and the United States recognize that global energy security and concerns about the climate are driving the uptake of clean and efficient renewable energy technologies.

The United States is the largest source of foreign investment capital in Australia, with cumulative investments estimated at over 550 billion dollars in 2011, with Australia having over 400 billion dollars invested in the United States.