LNG boosts Australia’s GDP and trade balance

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27 May 20, 4:26pm .@APPEALtd's latest Key Statistics publication highlights #oilandgas trends both domestically and internationally.… https://t.co/3FB9U7U72W
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by APPEALtd
27 May 20, 1:40pm #Natgas allows for more #renewables to be integrated into the grid as it can ramp up and down very quickly to suppo… https://t.co/PXFtI36p4B
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27 May 20, 1:32pm Latest data from @energygovau shows #naturalgas plays key role in the #electricity market by enabling more… https://t.co/NXr1K5uP2Z
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22 May 20, 5:35pm APPEA is pleased to announce the winner of the ‘Best Extended Abstract’ for inclusion in the 2020 APPEA Journal goe… https://t.co/nKLXs6o29d
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by APPEALtd

Australian Bureau of Statistics (ABS) data released today confirms that strong LNG exports are a rare source of growth in Australia’s economy.

Oil and gas extraction rose by 5.1 per cent over the 2016 March quarter, following the record $17 billion in LNG exports in 2015.

APPEA Chief Executive Dr Malcolm Roberts said Australia’s LNG projects will deliver decades of economic growth, jobs and exports.

“In 2015, the seven LNG projects in Australia produced about 30 million tonnes of LNG,” Dr Roberts said.

“When these projects and the three projects under construction reach full output, Australia’s LNG exports will almost triple.

“By 2019, Australia will be the largest single exporter of LNG in the world.

“For LNG to continue to be a pillar of the nation’s economy amid a depressed oil market, exploration and development must be fostered, not restricted.”

Dr Roberts said capturing future growth and investment opportunities should be a key aim for both major parties during the Federal election campaign.

“We need to hear much more from our political leaders about how they intend to encourage resource investment, increase competitiveness and build on a decade of extraordinary LNG investment,” he said.