The Premier of Queensland, Annastacia Palaszczuk, has welcomed QGC’s recent announcement that it will invest AUS$1.7 billion in the LNG industry.
Earlier this month, QGC Pty Ltd and its joint venture partners China National Offshore Oil Corp. and Tokyo Gas announced plans for a two-year development of natural gas tenements west of Wandoan, Queensland, Australia.
Ms Palaszczuk described the news as a “welcome boost” to the Queensland economy that will support 1600 jobs. She said: “It shows that we have the right policy settings in Queensland and businesses such as QGC are confident in investing in our state.”
State Development Minister, Anthony Lynham, said Queensland’s LNG exports were projected to hit AUS$15 billion by 2016 - 2017. Dr Lynham said: “That means valuable export dollars and annual royalties while supporting thousands of jobs for Queensland […] By 2018, Queensland could be the world's fourth largest LNG exporter and, by the end of the decade, Australia has the potential to be the world's leading LNG exporter.”
Dr Lynham added that approximately 20% of gas used in Queensland households came from LNG and that LNG would play a growing role in global energy needs in the future: “Queensland has strong partnerships with key markets like Asia and we’re well-placed to benefit from this and play an increasing role in a global clean energy future.”
Edited from press release by Callum O'Reilly