Gas Exports Underpin Oz Economy: Appea

The Australian Petroleum Production & Exploration Association (Appea) said that the Resources and Energy Quarterly September 2019 released September 30 underlines the vital and ongoing role natural gas plays in delivering significant economic benefits for Australia while helping to reduce global emissions.

According to the department of industry, innovation and science, the value of Australia’s resources and energy exports reached a record A$279bn (US$188bn) in 2018-19 largely due to growing liquefied LNG exports. In 2018-19, Australia’s LNG export earnings are estimated at A$50bn, an increase of 61% year on year over the previous year.

Appea CEO Andrew McConville said the data highlighted the significance of LNG exports for sustaining Australia’s economic growth, maintaining living standards and lowering global carbon emissions.

“Australia’s LNG projects will deliver decades of economic growth, jobs and exports,” McConville said. “The billions of dollars invested in these projects has also benefitted the growing domestic market. The LNG industry is and will remain a very large supplier of domestic gas to the east coast gas market.”