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>

<< Sep 2016 >>
MTWTFSS
29 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 29 30 1 2

The 7th Annual Floating LNG USA 2016

The 7th Annual Floating LNG USA 2016 will bring together over 65 speakers from every part of the FLNG value chain…

read more >

The 2nd Annual South Africa: Gas Options

The 2nd Annual South Africa: Gas Options meeting taking place on 3rd– 5th October at The Westin Cape Town hotel…

read more >

Gas to Liquids

The volatile oil price has had a dramatic impact on the Gas to Liquids market and some large-scale projects’ operators have struggled to adapt to this unsteady landscape. Over the last 12 months, we have witnessed a few promising projects halt or even shut down altogether. However, whilst some doors have had to close, other doors are opening with interesting emerging markets on the new GTL field. A few companies have discovered ways to significantly reduce operating costs and prove to be commercially viable despite the current economic climate.

Against this backdrop, SMi’s 19th annual Gas to Liquids conference will discuss how GTL companies can work with the tumbling oil price and how they can build robust strategies and create effective alternative solutions to enable them to weather the storm. The programme will have a special focus on small-scale GTL projects, giving you the chance to hear first-hand success stories from leading GTL operators. The two-day event will provide the ideal platform for experts to discuss with peers what companies need in place in order to overcome today’s challenges, with leading industry figures dissecting cutting edge topics, including project financing, marketing of GTL projects and innovative alternative applications of GTL plants.

For more information and to register online, visit: www.gas-to-liquids.co.uk

read more >

The Rio Oil & Gas Conference 2016

Rio Oil & Gas 2016 will address topics from energy efficiency to sustainable Oil & Gas industry…

read more >