Asian LNG market set for overhaul for Australian and American volumes
Australian and North American LNG volumes will test the absorption capacity of the Asia-Pacific LNG market as ample supplies are lined up and buyers are offered some supply and price diversification.
The Australian LNG industry's addition of 60 million tonnes of production in the next seven years represents faster growth than the World No. 1 LNG producer Qatar when it built its six mega-Trains.
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The Australian onshore, offshore and CSG-to-LNG projects cover the nation |
Up to 50 million tonnes per annum of additional supply could also be directed at Asia from the US and Canada.
Untapped
Australia is set to overtake Qatar as the world's largest producer and while the Gulf state is unlikely to expand output, Australia has untapped natural gas resources for even more projects to be developed in the years ahead.
That won't be for a while though, say analysts, as Australian engineering, construction and labour capacity, not to mention its offshore expertise and potential infrastructure provision, has reached a scale where no extra capacity could be handled in a safe and timely fashion.
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