Australia: Resources Investment at Record High, BREE Says

Australia: Resources Investment at Record High, BREE Says

Committed investment to increase the capacity of Australia’s mining industry at the end of April 2012 was a record $260.8 billion, an increase of 12 per cent from October 2011 according to the Mining Industry Major Projects – April 2012, released yesterday by the Bureau of Resources and Energy Economics (BREE).

The continued growth in committed capital expenditure will result in significant increases in Australia’s supply capacity of LNG, iron ore and coal” said Professor Quentin Grafton, BREE Executive Director and Chief Economist.

The $260.8 billion consists of a 98 projects at an advanced stage of development (committed or under construction) including 39 minerals projects, 38 energy projects, 19 infrastructure projects and two mineral processing projects.

Oil and gas, iron ore and coal and associated infrastructure accounted for around 95 per cent of the total committed capital expenditure.

Of the $260.8 billion of committed capital expenditure, over 60 per cent is accounted for by seven LNG projects. When the seven projects are complete and operating at full capacity, in the second half of this decade, Australia will be one of the world’s leading exporters of LNG.

The majority of the investment to expand the world’s LNG supply capacity is taking place in Australia because of our relatively large gas reserves and proximity to the Asian markets,” said Professor Grafton.

In the six months to April 2012 there were 25 projects completed at a record value of $23.6 billion, almost double the previous record value when $12.5 billion worth of projects was completed in the six months to April 2008.

The record value of completed projects was underpinned by the completion of the Pluto LNG project at a capital cost of almost $15 billion, as well as the $3.4 billion expansion to the Worsley alumina refinery.

LNG World News Staff, May 25, 2012; Image: Woodside

Share this article

Follow LNG World News

Events>

<< Feb 2017 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 1 2 3 4 5

CIMPC 2017

The 2017 Chine International Marine Corrosion & Protection Technology and Innovation and Application Development Forum will be held in March in Shanghai, China.

The Forum will continue to maintain a high standard, specialization, and internationalization. In addition to focusing on marine areas, it will also extend to the corrosion and protection of land and air engineering.  By showing the outstanding results of China in the aspects of corrosion technology research and engineering applications, as well as by introducing the advanced anti-corrosion technology and products, it is aimed to promote the development of China’s corrosion & protection technology and engineering application.

More info

read more >

Papua New Guinea Petroleum & Energy Summit

Capitalise on the Exciting Commercial Opportunities in the Papua New Guinean Oil & Gas Sector

read more >

NGV Global 2017

The NGV GLOBAL 2017 Conference will bring together leaders in the world natural gas for vehicles to discuss current trends, development…

read more >

Gastech Conference & Exhibition

Gastech Conference & Exhibition represents and addresses the current commercial and technical challenges spanning the entire natural gas & LNG supply chain..

read more >