A new report has been released on the role of liquified natural gas (LNG), as part of Australia’s Global Resource Strategy.
The Liquified Natural Gas Commodity Report aimed to underscore the potential for investment and trade in LNG.
Federal Minister for Resources and Water, Keith Pitt, said the Australian Government is committed to delivering the strongest and most business-friendly investment environment for the Australian resources sector.
“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 backing the LNG trade and investment potential between Australia, India and Bangladesh through a new South Asian LNG Partnership.
Australia will invest $11.3 million over ten years in the partnership, which will build relationships across the LNG supply chain between participating countries.
The report is available on the Department of Industry, Science, Energy and Resources website.