Origin Expects Australian Gas Demand to Treble

Origin Energy expects Australian natural gas demand to increase three folds over next five years as a string of export gas projects are brought on-stream in Queensland.

''Gas demand in eastern Australia is expected to triple over the next five years and Origin continues to invest in a targeted number of exploration opportunities in and around existing permits in anticipation of this growth,'' company’s annual report said, Sydney Morning Herald reported.

The Australian firm is exploring for gas in New Zealand, south-east Asia, Kenya and Botswana. It expects these opportunities to drive growth in the medium to long term, the company said. Origin also anticipated domestic gas prices to rise which will add to its earning.