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(Moves expert quote from paragraph 7 to 15 to show he was referring to exploration project) By Tim Hepher and

Australian Prime Minister Anthony Albanese has ruled out a so-called Quad summit taking place in Sydney without President Joe Biden, saying the four leaders will talk at the Group of Seven meeting this weekend in Japan. Albanese said Wednesday he understands why Biden pulled out of the summit to focus on debt limit talks in Washington since they are crucial to the economy. The summit including Indian Prime Minister Narendra Modi and Japanese Prime Minister Fumio Kishida had been scheduled for May 24. “The blocking and the disruption that’s occurring in domestic politics in the United States, with the debt ceiling issue, means that, because that has to be solved prior to 1st June — otherwise there are quite drastic consequences for the U.S. economy, which will flow on to the global economy — he understandably has had to make that decision,” Albanese told reporters. Biden “expressed very much his disappointment” at being unable to come to the Sydney summit and to the national capital Canberra a day earlier to address Parliament, Albanese said. The four leaders will soon be together in Japan for the G-7 summit in Hiroshima and are planning to meet there, he said. “The Quad is an important body and we want to make sure that it occurs at leadership level and we’ll be having that discussion over the weekend," Albanese said. He suggested Modi still might visit Sydney next week, noting the Indian leader was scheduled to give an address to the Indian diaspora at a sold-out 20,000-seat stadium on Tuesday. “We’ll make further announcements about that, but Prime Minister Modi would certainly be a very welcome guest here next week,” Albanese said. Read More Ukraine war’s heaviest fight rages in east - follow live Charity boss speaks out over ‘traumatic’ encounter with royal aide