The latest Resources and Energy Quarterly has reaffirmed the vital and significant contribution liquefied natural gas (LNG) exports play in sustaining Australia’s economic growth.
The value of Australia’s resources and energy exports is forecast to increase to a record $278 billion in 2018-19 due, in large part, to growing LNG exports, according to the March 2019 figures released by the Department of Industry, Innovation and Science.
In 2018-19, Australia’s LNG export earnings are forecast to reach $50 billion, an $18 billion increase over the previous year – the largest increase of any commodity.
APPEA Chief Executive Andrew McConville said the new data showed the importance of LNG exports to sustaining Australia’s economic growth and maintaining living standards.
“Additionally, the industry makes a significant contribution in the communities it operates in, particularly in rural and remote regions,” Mr McConville said.
“Australia’s LNG projects will deliver decades of economic growth, jobs and exports.
“These national benefits aside, LNG exports also have regional and global environmental benefits.
“When used to replace coal, LNG cuts emissions, especially in large cities across Asia. LNG also helps developing countries reduce air pollution, a major cause of millions of premature deaths.”
According to government estimates, Australian LNG exports are reducing emissions by at least 130 million tonnes in customer nations – equivalent to almost a quarter of Australia’s emissions.
Australian LNG is doing its bit in addressing the global problem of climate change.
Read the Resources and Energy Quarterly report.