Australia takes lead as world's largest gas exporter

Australia finished 2018 as the world’s largest single gas exporter, ahead of Qatar, with resources and energy exports on track for a record $264 billion.

Gas-ring

Coal still Australia's most valuable commodity but sector on track for annual gas exports of 77 million tonnes a year.

“For the first time ever, Australia has exported more gas than Qatar in November and it looks like we will lead them in annual exports over the next year,” Minister for Resources and Northern Australia Matt Canavan said.

“This underlines the strength of Australia’s gas industry – with earnings expected to increase more than 60 per cent from $31 billion in 2017-18 to $50 billion in 2018-19 – but also the potential value to the Australian economy.”

Minister Canavan said that total resource and energy exports are expected to earn a record $264 billion in 2018–19 – generating more than half the total value of Australia’s exports.

“The December 2018 Resources and Energy Quarterly (REQ) showed coal remained top of the tree for Australia’s resource commodity exports but gas has made a significant increase in value,” Minister Canavan said.

“Australia’s coal earnings are set to exceed $67 billion in 2018–19, making it our largest commodity export.

“At the same time, the value of iron ore exports are expected to remain high, predicted to increase from $61 billion in 2017-18 to $64 billion this year.

“However the biggest increase in export value of any commodity will be seen in gas, expected to be up $19 billion from $31 billion in 2017-18 to $50 billion in 2018-19.

Exports of resources and energy make a massive contribution to the Australian economy and to the prosperity of businesses, communities and families throughout the nation.

The full December 2018 Resources and Energy Quarterly (REQ) report can be accessed here.

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