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  • Michael Page Oil & Gas
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  • Michael Page Oil & Gas
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  • Michael Page Oil & Gas
  • Michael Page Oil & Gas
  • Michael Page Oil & Gas

Australia’s LNG (Liquified Natural Gas) Industry

By Ed Glover, Michael Page Oil & Gas Senior Manager in Australia

 

The Oil and Gas Industry is a significant contributor to Australia’s current prosperity and accounts for more than one third of Australian business investment.

Liquefied Natural Gas, or LNG, is Natural Gas (Methane) that is chilled to below -160ºC until it becomes a liquid. Once liquefied, this Natural Gas takes up significantly less space than in its natural state and can be transported and subsequently exported in a much more efficient manner.

Currently Australia is the worlds 4th largest LNG producer and has three operating LNG projects. Combined, these three projects have an export capacity of around 24 million tonnes. A further seven LNG projects – representing a $200 billion + investment – are in the development phase. As a result, LNG, is now driving an unprecedented level of investment in Australia and by 2017, total export capacity is expected to reach 85 million tonnes which could make Australia the worlds largest LNG producer.

Over the current LNG projects’ investment phase, oil and gas investment and construction activity is expected to create over 100,000 full time jobs across Australia. The three operating LNG projects in Queensland created job opportunities for around 30,000 people and the four new LNG projects under construction in Western Australia and the Northern Territory (such as the Gorgon project which is forecast to generate 7000+ jobs) are also expected to create major employment opportunities in Australia.

In 2012-13, Australia shipped 23.9 million tonnes of LNG, earning nearly $14 billion in export revenue. Australia’s LNG exports are expected to quadruple over the next five years driving forward Australia’s ambition to be the number one LNG producer globally. 

 

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