SYDNEY: Australia expects to increase exports of liquefied natural gas (LNG) by 16 per cent from mid-2018 as $180 billion in new projects hit their stride, nearly catching up with Qatar, the world’s top supplier.
Rising LNG exports coupled with higher prices for steel-making commodities and thermal coal should see Australia’s overall resource and energy export earnings increase 2 per cent in the year to end-June 2018, to a record AUS$211bn ($165bn), the Department of Industry, Innovation and Science said on Friday.
Australia’s LNG exports are forecast to climb to 74 million tonnes in the year to end-June 2019, from 63.8 million tonnes forecast for this year and 52m tonnes last year. By comparison, Qatar last year exported 77.6m tonnes.
The rise in Australian exports will be underpinned by higher output at the Gorgon project, run by Chevron Corp, as well as the completion of three remaining LNG projects: Chevron’s Wheatstone, Inpex Corp’s Ichthys, and Royal Dutch Shell’s Prelude. Those three projects will add around 21m tonnes to Australia’s LNG export capacity, taking total capacity to around 88m tonnes.
Published in Dawn, October 6th, 2017
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