Knock knock – McKinsey sizes up the natural gas opportunity

Recent articles


Tweets

5 June 20, 4:57pm On #WorldEnvironmentDay, watch APPEA Chief Executive @sententia_gas highlight the importance of #natgas in helping… https://t.co/Udd02tV29i
array(24) { ["created_at"]=> string(30) "Fri Jun 05 06:57:22 +0000 2020" ["id"]=> int(1268799055364120577) ["id_str"]=> string(19) "1268799055364120577" ["text"]=> string(413) "On #WorldEnvironmentDay, watch APPEA Chief Executive @sententia_gas highlight the importance of #natgas in helping… https://t.co/Udd02tV29i" ["truncated"]=> bool(true) ["entities"]=> array(4) { ["hashtags"]=> array(2) { [0]=> array(2) { ["text"]=> string(19) "WorldEnvironmentDay" ["indices"]=> array(2) { [0]=> int(3) [1]=> int(23) } } [1]=> array(2) { ["text"]=> string(6) "natgas" ["indices"]=> array(2) { [0]=> int(96) [1]=> int(103) } } } ["symbols"]=> array(0) { } ["user_mentions"]=> array(1) { [0]=> array(5) { ["screen_name"]=> string(13) "sententia_gas" ["name"]=> string(17) "Andrew McConville" ["id"]=> int(82637774) ["id_str"]=> string(8) "82637774" ["indices"]=> array(2) { [0]=> int(53) [1]=> int(67) } } } ["urls"]=> array(1) { [0]=> array(4) { ["url"]=> string(23) "https://t.co/Udd02tV29i" ["expanded_url"]=> string(52) "https://twitter.com/i/web/status/1268799055364120577" ["display_url"]=> string(29) "twitter.com/i/web/status/1…" ["indices"]=> array(2) { [0]=> int(116) [1]=> int(139) } } } } ["source"]=> string(71) "Twitter Web App" ["in_reply_to_status_id"]=> NULL ["in_reply_to_status_id_str"]=> NULL ["in_reply_to_user_id"]=> NULL ["in_reply_to_user_id_str"]=> NULL ["in_reply_to_screen_name"]=> NULL ["user"]=> string(8) "APPEALtd" ["geo"]=> NULL ["coordinates"]=> NULL ["place"]=> NULL ["contributors"]=> NULL ["is_quote_status"]=> bool(false) ["retweet_count"]=> int(0) ["favorite_count"]=> int(4) ["favorited"]=> bool(false) ["retweeted"]=> bool(false) ["possibly_sensitive"]=> bool(false) ["lang"]=> string(2) "en" }
by APPEALtd
5 June 20, 2:25pm On #WorldEnvironmentDay, Western Australian school students are being encouraged to explore the #environment by pho… https://t.co/kFKXAbhkPk
array(24) { ["created_at"]=> string(30) "Fri Jun 05 04:25:36 +0000 2020" ["id"]=> int(1268760862463897601) ["id_str"]=> string(19) "1268760862463897601" ["text"]=> string(355) "On #WorldEnvironmentDay, Western Australian school students are being encouraged to explore the #environment by pho… https://t.co/kFKXAbhkPk" ["truncated"]=> bool(true) ["entities"]=> array(4) { ["hashtags"]=> array(2) { [0]=> array(2) { ["text"]=> string(19) "WorldEnvironmentDay" ["indices"]=> array(2) { [0]=> int(3) [1]=> int(23) } } [1]=> array(2) { ["text"]=> string(11) "environment" ["indices"]=> array(2) { [0]=> int(96) [1]=> int(108) } } } ["symbols"]=> array(0) { } ["user_mentions"]=> array(0) { } ["urls"]=> array(1) { [0]=> array(4) { ["url"]=> string(23) "https://t.co/kFKXAbhkPk" ["expanded_url"]=> string(52) "https://twitter.com/i/web/status/1268760862463897601" ["display_url"]=> string(29) "twitter.com/i/web/status/1…" ["indices"]=> array(2) { [0]=> int(117) [1]=> int(140) } } } } ["source"]=> string(71) "Twitter Web App" ["in_reply_to_status_id"]=> NULL ["in_reply_to_status_id_str"]=> NULL ["in_reply_to_user_id"]=> NULL ["in_reply_to_user_id_str"]=> NULL ["in_reply_to_screen_name"]=> NULL ["user"]=> string(8) "APPEALtd" ["geo"]=> NULL ["coordinates"]=> NULL ["place"]=> NULL ["contributors"]=> NULL ["is_quote_status"]=> bool(false) ["retweet_count"]=> int(0) ["favorite_count"]=> int(1) ["favorited"]=> bool(false) ["retweeted"]=> bool(false) ["possibly_sensitive"]=> bool(false) ["lang"]=> string(2) "en" }
by APPEALtd
4 June 20, 11:23am Last night's decision by @NSWLabor to vote with @GreensNSW and a slew of independents in support of a #gas moratori… https://t.co/0ICgPZccED
array(24) { ["created_at"]=> string(30) "Thu Jun 04 01:23:13 +0000 2020" ["id"]=> int(1268352576149270528) ["id_str"]=> string(19) "1268352576149270528" ["text"]=> string(381) "Last night's decision by @NSWLabor to vote with @GreensNSW and a slew of independents in support of a #gas moratori… https://t.co/0ICgPZccED" ["truncated"]=> bool(true) ["entities"]=> array(4) { ["hashtags"]=> array(1) { [0]=> array(2) { ["text"]=> string(3) "gas" ["indices"]=> array(2) { [0]=> int(102) [1]=> int(106) } } } ["symbols"]=> array(0) { } ["user_mentions"]=> array(2) { [0]=> array(5) { ["screen_name"]=> string(8) "NSWLabor" ["name"]=> string(9) "NSW Labor" ["id"]=> int(85994676) ["id_str"]=> string(8) "85994676" ["indices"]=> array(2) { [0]=> int(25) [1]=> int(34) } } [1]=> array(5) { ["screen_name"]=> string(9) "GreensNSW" ["name"]=> string(28) "Greens NSW / Tamara Smith MP" ["id"]=> int(231652760) ["id_str"]=> string(9) "231652760" ["indices"]=> array(2) { [0]=> int(48) [1]=> int(58) } } } ["urls"]=> array(1) { [0]=> array(4) { ["url"]=> string(23) "https://t.co/0ICgPZccED" ["expanded_url"]=> string(52) "https://twitter.com/i/web/status/1268352576149270528" ["display_url"]=> string(29) "twitter.com/i/web/status/1…" ["indices"]=> array(2) { [0]=> int(117) [1]=> int(140) } } } } ["source"]=> string(71) "Twitter Web App" ["in_reply_to_status_id"]=> NULL ["in_reply_to_status_id_str"]=> NULL ["in_reply_to_user_id"]=> NULL ["in_reply_to_user_id_str"]=> NULL ["in_reply_to_screen_name"]=> NULL ["user"]=> string(8) "APPEALtd" ["geo"]=> NULL ["coordinates"]=> NULL ["place"]=> NULL ["contributors"]=> NULL ["is_quote_status"]=> bool(false) ["retweet_count"]=> int(2) ["favorite_count"]=> int(7) ["favorited"]=> bool(false) ["retweeted"]=> bool(false) ["possibly_sensitive"]=> bool(false) ["lang"]=> string(2) "en" }
by APPEALtd

LNG Projects

Knock, Knock, a recent report by McKinsey & Company estimates that the commissioning of all the $180 billion LNG projects currently on the drawing board in Australia will increase national GDP by 1.5 per cent, create about 150,000 jobs and deliver tax revenues equal to nearly half the total federal debt.

The encouraging thing, the consultants add, is that this is happening when Asia needs much more gas over the next two decades, Australia has plentiful reserves, we are in the right geographical place and we have a long history of reliable supply to Asian customers.

On the debit side, the cost of building new LNG projects in Australia has increased tremendously in the past decade and is now 20 to 30 per cent higher than that of the competition in North America and East Africa.

Another important aspect, McKinseys point out, is that the window of opportunity for Australia to capture a higher share of the global LNG trade may shut because of factors as diverse as China developing its own shale gas industry or Japan changing its power generation mix.

“Australia faces a choice,” say McKinseys. “If it tackles the productivity gap, it can continue to create significant wealth from LNG. If the window of opportunity closes, much economic gain will be lost.”

Time to show your support for natural gas. Sign our Petition!