First Gladstone LNG shipment a sign of sector strength
Congratulations to the Australian gas industry on achieving a major milestone with the first shipment of liquefied natural gas (LNG) departing from Santos’ Gladstone LNG project in Queensland this morning.
This achievement reinforces Australia’s position as a world leader in the global LNG industry. Milestones like this are a strong indication that Australia is on track to become the world's leading LNG exporter by 2019-20.
The potential of our gas sector is enormous, with $200 billion of investment at the committed stage.
The Gladstone LNG project is the second of three major Queensland projects and has resulted in 6,000 new jobs during the construction phase, and 1,000 ongoing jobs in the production phase.
Global demand for gas is forecast to continue to grow, particularly with Asia’s growing middle-class. Australia will directly benefit from this with LNG exports expected to triple by 2019.
The Australian Government is committed to encouraging this growth by supporting strong and resilient energy markets in the Asia-Pacific region, as was emphasised at the APEC Energy Ministers Meeting in the Philippines just this week.
I look forward to welcoming more major milestones like this in the future.
Media contacts: Mr Frydenberg's office 02 6277 7180