APPEA calls for focus on LNG export benefits

APPEA calls for focus on LNG export benefitsImage courtesy of APPEA

The Reserve Bank of Australia said that LNG exports are expected to contribute almost 0.5 percentage point to GDP growth per year between 2017 and 2019. 

Commenting on RBA’s report, the Australian Petroleum Production & Exploration Association (APPEA) said it should be given “more attention in the political debate about the east coast gas market.” 

APPEA’s chief executive, Malcolm Roberts noted RBA’s statement confirms the significance of LNG exports to sustaining economic growth.

However, he stressed that the local and national economic benefit is under threat due to the political debate, as Queensland’s LNG industry is portrayed as the reason the market is short of gas.

“Supply in the east coast gas market is tight. However, the industry has tripled gas production on the east coast over the last five years,” Roberts said.

He added that even more supply would have been developed had New South Wales and Victoria not imposed bans and restrictions on new projects.

Roberts urged the prime minister to encourage these states to copy Queensland’s example, adding that some A$50 billion in investment through to 2030 would be needed to maintain supply.

In addition, he said that possible LNG export restrictions would jeopardise the investment, although RBA’s report says the effects of the Australian Domestic Gas Security Mechanism on overall LNG exports remain unclear at this stage.

Share this article

Follow LNG World News


<< Jan 2018 >>
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 31 1 2 3 4

Singapore Maritime Technology Conference and Exhibition (SMTC) 2018

The 3rd Singapore Maritime Technology Conference and Exhibition (SMTC) 2018…

read more >

CWC Japan LNG & Gas Summit

The inaugural CWC Japan LNG & Gas Summit, with participation and support from METI, JERA, Tokyo Gas and IEEJ, is the dedicated platform for international suppliers…

read more >

Asia Pacific Maritime and Offshore Exhibition 2018

7 years in the making, APM is the premier shipbuilding & marine, workboat and offshore exhibition in Asia…

read more >

CWC 2nd Papua New Guinea Petroleum & Energy Summit

The 2nd CWC Papua New Guinea Petroleum and Energy Summit is held under the patronage of the Prime Minister of Papua New Guinea…

read more >