Australia backs LNG exports as supply crunch looms

By Sally Bogle 9 November 2012 16:54 GMT
Australian Energy Minister Martin Ferguson said reform was needed to maintain an attractive investment climate. (PA) Australian Energy Minister Martin Ferguson said reform was needed to maintain an attractive investment climate. (PA)

Australia is banking on LNG exports to sustain economic growth for the next 15 years at least, according to an energy white paper issued on Thursday. Growth will come at the expense of the domestic gas market, however, which will face a significant supply and price crunch in the short-to-medium term as production is diverted to export markets.

Launching the Energy White Paper 2012, Energy Minister Martin Ferguson said the priority was to deliver energy to consumers while building national wealth, a major part of which will come from Australia’s vast untapped gas resources.