The Federal Government has released a new report highlighting Australia’s trade and investment advantages in the nation’s liquefied natural gas sector.
The Liquefied Natural Gas (LNG) Commodity Report, part of Australia’s Global Resources Strategy, highlights Australia’s comparative trade and investment advantages between 2022 and 2050.
Federal Minister for Resources and Water, Keith Pitt, said the Federal Government is committed to delivering the strongest and most business-friendly investment environment for the Australian resources sector.
Mr Pitt said the report found that Australia, one of the world’s largest LNG suppliers, is a secure and competitive destination for developing LNG projects.
“Australia offers a strong, stable and transparent regulatory environment as well as research and development incentives to support innovation,” Mr Pitt said.
“Our proximity to Asia and high quality resources have seen us become the supplier of choice in global supply chains.
“We will seek to consolidate and strengthen this position in the decades to come.”
The report identifies India and Bangladesh as major emerging LNG markets for Australia.
The Federal Government is also backing the LNG trade and investment potential between Australia, India and Bangladesh through a new South Asian LNG Partnership.
“Investors can have confidence in Australia’s stable regulatory settings when making long-term investments,” Mr Pitt said.
Australia will invest $11.3 million over ten years in the Partnership, which will build relationships across the LNG supply chain between participating countries.
