Queensland Budget highlights the considerable value a growing and vibrant natural gas industry provides to the state with jobs, investment and community funding set to deliver benefits for decades to come.
APPEA Chief Operating Officer Eastern Australia, Paul Fennelly said: “Ten years ago there was barely a natural gas industry in Queensland. Today we are looking forward to Queensland’s growth rate being the highest in the country off the back of gas exports.”
Queensland Treasurer, Tim Nicholls said: “In 2015-16, the ramp-up in LNG production is expected to underpin a surge in exports which, combined with an improved domestic economy, is forecast to boost economic growth to an 11-year high of around 6 per cent. This will be the highest in the nation. “
Queensland’s gas industry is spending around $70 billion on coal seam gas to liquefied natural gas projects with first exports planned later this year.
Fennelly said: “As a result, a significant portion of the more than $2.8 billion in resources industry revenue in 2014-15 will be coming directly from the gas industry.”
Press Release, June 3, 2014