Australia to Lead LNG Future
According to a forecast published this week by GBI Research, a UK energy consultant group, Australia will overtake Qatar by 2017 as LNG export leader.
With the speculative possibility of an emerging massive US LNG export market, fueled by the surfeit of shale gas production, LNG developments in Australia are likely to be the most promising activities in the world in this type of commodity. Two important facts work in its favor: 1) Chinese natural gas demand expected to be as much as quadruple of current natural gas usage by 2020 exceeding 12 trillion cubic feet (Tcf); and 2) the very large recent offshore discoveries of gas in Western Australia.
Australia is loaded with gas.