Australian LNG Exports May Increase Fivefold to A$50 Billion

By Ben Sharples
April 16  -- Australian liquefied natural gas exports may increase fivefold to A$50 billion ($47 billion) by 2016 from 2009 levels as countries seek cleaner-burning fuels, the nation’s energy minister said.
The value of shipments of LNG may jump to the estimated figure should projects operated by Royal Dutch Shell Plc, Woodside Petroleum Ltd., Inpex Corp, Chevron Corp. and Santos Ltd. proceed by the middle of the decade, Martin Ferguson said in Sydney today.
Australia is set to become the second-largest exporter of gas converted to liquid form for transportation by ship behind Qatar, he said.
“The continued rapid growth of China and the coming growth of India can be expected to drive sustained growth in demand for Australian resources, as we are on the doorstep of that growth,” Ferguson said in e-mailed speech notes.

Source: http://www.bloomberg.com/apps/news?sid=a8daUAM.kZgs&pid=20601087

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