Australia’s pursuit of becoming the biggest exporter of liquefied natural gas (LNG) in the world would be more feasible now that the Ministry of Resources does not plan to curb overseas shipments.
As the demand for LNG exports in Asia-Pacific countries remains stable, the non-restriction could likewise help realise the International Energy Agency’s (IEA) 20-year outlook for the global energy market. Acu-Tech Piping Systems shares more information about the industry.
Resources Minister, Matt Canavan, said since the domestic gas market produces an abundant supply, there would be no need for regulatory controls on exports in 2019. The announcement served as good news for international buyers, particularly Japan, which is the biggest importer of the commodity. It would likewise be beneficial for the Chinese and South Korean markets that have long-term contracts with Australia.
There could also be a greater need for high-density polyethylene (HDPE) piping systems among LNG exporters since beefing up capacity would be important for a sustained distribution. By 2040, the IEA expects global consumption of natural gas to increase by 45 per cent.
Energy Minister, Josh Frydenberg, said gas will be responsible for more than 70 percent of the country’s future power sources. The growth will stem from reduced coal use in favour of gas, although the former may still account for 64 per cent of the energy mix.
In fact, the country will be the biggest producer of coal seam with almost 50 per cent of the international production in the next two years. Whether you plan to expand your LNG or coal exports, having a stable pipeline and storage capacity will be important for an uninterrupted supply chain.
Australia’s decision for not imposing additional regulatory controls for LNG exports should encourage companies to improve their operational efficiency. These efforts should likewise include developments to pipeline systems, especially if your production levels have surged in recent months.