Australia is busy working to build liquefaction plants that will more than triple its annual LNG-manufacturing capacity to 85 million tons by 2018. This will enable Australia to become the world’s biggest gas exporter, ahead of Qatar.
As gas shortage is already pushing bills and prices up for households and heavy industries, Australia is moving fast in a bid to reach the top of the world gas market, hoping to become a major global player in the sector.
The Royal Dutch Shell Co. has spent $ 21 billion building an LNG plant and the Pearl, the world’s largest gas to liquids facility. It turns natural gas into 140,000 barrels a day of jet fuel and other petroleum products.
According to some experts, the global LNG market is going to loosen in the few coming years with the arrival of new powerful players such as the Australians and the Americans.
U.S. producers have agreed lately to supply Asian LNG buyers, including GAIL India Ltd., Korea Gas Corp. and Tokyo Electric Power Co., at competitive prices beating the rates of Qatar. Canada, Mozambique, Russia and Tanzania are also planning new LNG export plants. This means the Qataris will lose more and more shares of the market.
