LNG Export Volume in Australia Will Increase by 42%
Posted: 11/04/2014 05:11:24 Edited: 11/04/2014 04:11:24 Clicks: 1627
HSBC estimates that Australia will become the largest LNG exporter for more productivity on line.
“Long-anticipated export growth is coming.” An analyst of HSBC wrote in newly published report and pointed out that two production facilities would be on line in short-term.
QCLNG on Curtis Island, Queensland, will begin to produce by the end of this year, and Gorgon in the west cost of Australia will also go into operation in the next year. Adding together, annual productivity of two programs will be over 24 million tons which is amount to total Australian LNG export volume during 2012-2013.
For that, HSBC predicts that Australian LNG export will grow by 70% in 2015-2016. LNG export Volume will increase by 42% per year in the next 3 years.
By 2018, another 5 programs will go into operation. Then, Australian annual LNG productivity will exceed 80 million tons, which higher that current 77 million tons in Qatar. At present, Qatar is the largest global LNG exporter while Australia is ranked as forth position.
“We continue predicting that growth of LNG export volume will offset investment decline enormously. Energy field will make great contribution to total GDP growth.” HSBC said.
Although LNG plants are owned by foreign countries to a great extent, Australian economy still benefits from tax revenues increasing. Because of export merchants need to turn in taxes on enterprises and state royalties.
However, experts doubt the economic feasibility of those LNG programs. For high cost, total economic value of Australian LNG productivity is estimated about 2 hundred billion dollars, about 13% of current GDP. Last year, data published by McKinsey showed that Australian LNG cost was higher by 20-30%, compared with that in North America and East Africa.
“Long-anticipated export growth is coming.” An analyst of HSBC wrote in newly published report and pointed out that two production facilities would be on line in short-term.
QCLNG on Curtis Island, Queensland, will begin to produce by the end of this year, and Gorgon in the west cost of Australia will also go into operation in the next year. Adding together, annual productivity of two programs will be over 24 million tons which is amount to total Australian LNG export volume during 2012-2013.
For that, HSBC predicts that Australian LNG export will grow by 70% in 2015-2016. LNG export Volume will increase by 42% per year in the next 3 years.
By 2018, another 5 programs will go into operation. Then, Australian annual LNG productivity will exceed 80 million tons, which higher that current 77 million tons in Qatar. At present, Qatar is the largest global LNG exporter while Australia is ranked as forth position.
“We continue predicting that growth of LNG export volume will offset investment decline enormously. Energy field will make great contribution to total GDP growth.” HSBC said.
Although LNG plants are owned by foreign countries to a great extent, Australian economy still benefits from tax revenues increasing. Because of export merchants need to turn in taxes on enterprises and state royalties.
However, experts doubt the economic feasibility of those LNG programs. For high cost, total economic value of Australian LNG productivity is estimated about 2 hundred billion dollars, about 13% of current GDP. Last year, data published by McKinsey showed that Australian LNG cost was higher by 20-30%, compared with that in North America and East Africa.
