Nicholas Newman Petroleum Review December 2016
Australia and the US have accounted for 75% of the 260tn cf gain in proven gas reserves since 2005, according to BP figures. A decade-long investment boom in as exploration and development, coupled with investments in LNG export processing facilities, have turned Australia into a
significant exporter. And there is more to come – according to the International Energy Agency’s 2016 Medium term gas market report. Australia could add another six new LNG export terminals by 2020, tripling its liquefaction capacity to over 13bn cf/d. By 2021 Australia will rival, if not overtake, Qatar for the position of the world’s largest LNG exporter, whilst the US could be exporting as much as 10bn cf/d.
Australia’s LNG plants will add another 15mn tonnes to world markets in 2016 alone. Over the….