LNG will take over from iron ore as the main driver of Australia’s exports and will reach $50 billion in value by 2020, an ANZ report says.
Gas producers such as Origin Energy and Santos have been accused of profiteering and hoarding capacity on pipelines, as industrial users seek more open access to scarce supplies at competitive prices.
State governments in New South Wales and Victoria need to sort out their coal seam gas industries or they will face monstrous supply issues, Federal Industry Minister Ian Macfarlane said at the recent Australia's Energy Future roundtable co-hosted by The Australian Financial Review and GE.
The outlook for Australia’s manufacturing sector is looking brighter with the latest ACCI-Westpac survey of industrial trends composite index rising 2.2 points to 58.4 in the June quarter.
The Australian competition watchdog is pushing ahead with an investigation into the potential impact of Shell’s planned $91 billion takeover of BG Group on east coast gas development and exploration, as well as the extent to which the two international gas giants compete against each other and with others in the domestic market.