Saturday 22nd Sep, 2018

LNG exports from Queensland on the rise

Photo: Shutterstock
Photo: Shutterstock

EXPORT liquid natural gas volumes from Queensland totalled 20.2m tonnes in 2017, topping the previous record by 2.7m tonnes according to lobby group the Queensland Resources Council.

QRC chief executive, Ian Macfarlane (a former cabinet minister), said the resources sector underpinned the Queensland economy.

“The resources sector continues to underpin the Queensland economy with record LNG exports over the year to December 2017,” Mr Macfarlane said.

“Coal showed it was still in high demand and on track for another record export tonnage until rail and port infrastructure was disrupted when Cyclone Debbie hit in March.”

The former minister (widely known as ‘Chainsaw’ due to his gravelly voice) said the LNG sector was forecast to continue to record export growth.

He noted China was the largest customer during 2017, receiving nearly 11.6m tonnes, followed by South Korea at 4m tonnes while Japan imported 2.5m tonnes.

“In addition to being a major global LNG supplier, Queensland is in a prime position with its high quality thermal and coking coal to continue to be one of the main players in global coal exports,” Mr Macfarlane said.

“The industry alone is forecast to contribute a $3.16bn windfall to the state’s coffers in this year’s budget.”

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