LNG to continue WA export surge

lngWA shipped more than half of Australia’s exports in the 2013-2014 financial year and LNG is set to keep this figure growing, the state government has revealed. The state contributed 51 per cent of the country’s merchandise exports for the period, worth $132 billion – a 14 per cent rise on the previous year.

Premier and State Development minister Colin Barnett said it was the first time a single state had produced more than half of the nation’s exports, despite comprising just 11 per cent of the population.

“This is a remarkable achievement, particularly when contrasted with some of the larger states like Queensland (17 per cent of national exports), New South Wales (14 per cent) and Victoria (9 per cent),” he said.

“This export growth is set to continue as the state’s major LNG projects commence production in coming years.” Major LNG projects including Gorgon, Wheatstone and the Prelude floating LNG plant are set to come online in the next five years.

As of September, $127 billion had been invested in LNG projects in WA. “LNG sales are expected to grow from 20 million tonnes in 2013-2014 to almost 50mt in 2017-2018, assuming the Gorgon, Wheatstone and Prelude projects are operating at full capacity at this time and the North West Shelf maintains current production levels,” the most recent Department of State Development economic profile of WA stated.

The profile revealed that 75 per cent of the state’s LNG went to Japan, and that LNG made up 10 per cent of WA’s merchandise exports.