The latest Resources and Energy Quarterly estimates Australia’s LNG export earnings will continue to increase in the coming year.
The Resources and Energy Quarterly June 2019 released by the Office of the Chief Economist this week said Australia exported an estimated $50 billion of LNG in 2018-19, with this number forecast to lift to $54 billion in 2019-20.
Australia ranked as the world’s second largest LNG exporter behind Qatar in 2018, having exported 70 million t of gas during the period.
Japan was Australia’s top customer, accounting for 44 per cent of LNG exports, while China was second with 33 per cent.
Australian Petroleum Production and Exploration Association (APPEA) Chief Executive Andrew McConville said the LNG industry continued to underpin Australia’s economic growth.
“The investment in LNG projects has significant flow-on benefits on the east coast and the west coast of Australia,” he said.
“The oil and gas industry underpins around 80,000 direct and indirect jobs – and hundreds of thousands of Australian jobs rely on the reliable, affordable and sustainable supply of oil and gas.”
In 2020-21, Australia’s LNG export volume is anticipated to increase to 81 million t.
For more information visit the Department of Industry, Innovation and Science website.
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