Queensland’s liquefied natural gas exports have hit $1 billion in just six months since shipments commenced, Treasurer Curtis Pitt said on Friday.
Pitt said according to official Australian Bureau of Statistics data, the value of Queensland’s overall merchandise exports is also accelerating.
“The nominal value of Queensland merchandise exports rose 20 per cent over the year to July quarter 2015,” Pitt said.
According to Pitt, growth over the year was driven by the ramp up of LNG exports, which commenced in January 2015, along with increases in the value of meat and coal exports.
He said that Queensland’s LNG industry exported $1.14 billion worth of gas from January to July.
“LNG exports are projected to hit $15 billion by 2016-17, earning the state valuable export dollars and annual royalties while supporting thousands of jobs,” Pitt added.
LNG World News Staff; Image: BG