Gladstone LNG ships first cargo
Today’s first shipment of liquefied natural gas (LNG) by Santos and its joint venture partners from Gladstone’s Curtis Island highlights Australia’s emergence as a world leader in the global LNG industry despite the global crude oil and LNG price downturn.
Gladstone LNG is now Australia’s fifth operating LNG project and the second that uses coal seam gas as feedstock.
Another five LNG projects – representing a total investment of more than $160 billion – are progressing towards completion, including Queensland’s Australia Pacific LNG project which is expected to be commissioned by year’s end.
In 2014-15, Australia shipped 25 million tonnes of LNG cargoes, earning $16.9 billion in export revenue. In Queensland alone, almost $1.4 billion worth of LNG has been exported this year.
Australia’s enormous natural gas reserves and Asia’s thirst for clean and reliable energy have seen an unprecedented level of investment in Australian projects in recent years.
Australia remains on track to become the world’s leading LNG producer by 2018.