The departure of the first LNG tanker from Queensland’s Gladstone Harbor on Jan. 5 marks the start of Australia’s completion of Queensland Curtis LNG – the first of three Queensland CSG-to-LNG export projects to be commissioned. Queensland Curtis LNG is now Australia’s fourth operating LNG project. Another six projects – representing a total investment of more than $180 billion – are still under development.
In 2012 and 13, Australia shipped 23.9 million tons of LNG cargo, earning $13.7 billion in export revenue. Australian LNG exports are expected to almost quadruple over the next few years. By 2018, Australia is forecast to overtake Qatar as the world’s number-one producer of LNG.
The Queensland Government forecasts that in 2015-16, LNG production will underpin a surge in exports to boost economic growth by 5.75%.
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