LNG eyes five-year export boom: report

LNG tanker berthed at the Karratha gas plant in Western Australia.

LNG tanker berthed at the Karratha gas plant in Western Australia.

Australia’s LNG industry is on the cusp of an export boom, according to one of the country’s big four banks.

However Australian consumers of the energy resource could be left to foot the bill.

ANZ’s latest report on the LNG industry states that exports will rise to some $50 billion by 2020 as production from new fields come online.

The dramatic increase in export value will be fuelled by a rise in global gas prices, which will result from an estimated 40 per cent surge in demand from Asia over the coming decade, according to the bank.

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