Australia Poised to Become World's Top Gas Exporter By 2020, U.S. Still Far Behind

By @ibtimesau on

By end of this decade or year 2020, Australia would have become the world's top gas exporter, according to the International Gas Union (IGU). Moreover, the body assured the country that the U.S. shale gas exports will likely affect liquefied natural gas (LNG) exports to Asia.

Jérôme Ferrier, IGU president, said the body had witnessed the growing importance of Australia for the global gas market. The country had immediately zoomed to become one of the top global LNG exporters.

"Natural gas can help to address the challenge of reducing carbon emissions," Mr Ferrier said. "Sustainable energy has to be accessible for all, while also ensuring that it is provided in an efficient manner and does not cause adverse environmental and socio-economic impacts."

"Gas has a pivotal role to play in this context."

Moreover, Australia happens to just have all the possible opportunities and energy resources.

Apart from LNG, Australia has shale gas reserves as well as coal. "You have all kinds of energy," he said.

About a third of the total increase in world gas consumption will come from the Asia-Pacific region, with China, Japan, South Korea and India as the main consumers.

"As that volume is maintained, Australia can expect to emerge as a key supplier," Mr Ferrier said.

"You are a secure supplier with no interruptions," IGU secretary-general Torstein Indrebo said of Australia being the most attractive supplier to the Asian market.

There are at least seven new LNG projects being constructed in Australia right now. Expected total capacity is placed at 60 million mt/year, potentially boosting Australia ahead of Qatar by around 2017 as the world's largest producer.

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