LNG: the future
Meet the Australian who will flick a switch for a brave new world offshore; plus how the 2011 Japanese earthquake has increased demand for our LNG
Few Australians have any idea of the sheer size and potential of the country’s liquefied natural gas industry. But the sector — which provides some of the cleanest forms of energy — is in a boom phase with $ 200 billion of projects under way from Western Australia to the Northern Territory and Queensland.
Expectations are that revenues from the industry will grow from $12bn last year to more than $ 60bn in five years’ time, which could see Australia bypass Qatar as the world’s top producer. A recent report by Deloitte Access Economics named the gas industry as one of Australia’s five super-growth industries.
This month’s magazine has a special focus on plans for the offshore LNG industry in Australia, the most developed part of our gas sector. It involves some of the world’s major players — Chevron, Shell, ExxonMobil, ConocoPhillips and Inpex — as well as Australia’s Woodside.
The Australian’s Tokyo correspondent, Rick Wallace, was given a rare tour of the shipyard in South Korea where a massive platform is under construction, which is to bemoored offshore WA to handle LNG production for the Prelude field. Perth-based LNG expert Paul Garvey has given an overview of the other major projects under way across Australia. As the mining boom cools, understanding our LNG future will become increasingly important.