Australia's booming LNG projects could see it become the Saudi Arabia of LNG, according to an overseas analyst.
Australia's booming LNG projects could see it become the Saudi Arabia of LNG, according to an overseas analyst. Contributed

One small step for Gladstone, one giant leap for LNG

AUSTRALIA'S booming LNG projects have been compared to the Apollo Moon program.

In a report about the country's continued strong dollar, the South China Morning Post said the billions being spent on LNG projects in Australia were much the same in real terms as the amount the United States spent putting a man on the moon.

The paper said the comparison was appropriate because the projects were "likely to keep the country's currency in orbit for years to come".

Australia recently surpassed Qatar as the largest supplier of natural gas to Japan, and - according to the newspaper - new projects could see the land Down Under become the Saudi Arabia of LNG.

Production of LNG will ramp up in coming years as projects on Gladstone's Curtis Island come online.

The government's main resource forecaster expects gas exports to more than double in volume by 2016, and triple the year after.

Read the South China Morning Post story here.



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