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

The Australian - The Deal - - Features -

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.

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