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Australian gas rush set to overhaul Qatar's lead

ChannelNewsAsia -- SYDNEY: Australia is set to become the world's biggest liquefied natural gas producer, with analysts predicting it will overtake Qatar by 2020 as it unlocks reserves that could last more than a century.

Seven of the world's 10 major LNG projects are under construction Down Under, with A$176 billion (US$183 billion) of private Australian and foreign investment in gas projects since 2007.

"The projects already under development will take us ahead of Qatar. It's just a case of when that happens," Wood Mackenzie analyst Chris Graham told AFP.

Analysts expect Australia to pip the small Gulf emirate, which holds the world's third-largest gas reserves and last year saw LNG production capacity rise to 77 million tonnes per annum (mtpa), by 2020.

But the government is hoping it reaches

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Submitted Jul 22, 2012 By: aservant

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honda0105 Champion Author Tallahassee Posts:18,609 Points:1,608,545 Joined:Nov 2008	Message Posted: Jul 25, 2012 6:16:12 AM Ignore honda0105 Report Abuse a "new gold" rush?
Agarre Champion Author Richmond Posts:1,335 Points:263,785 Joined:Feb 2012	Message Posted: Jul 22, 2012 7:26:25 PM Ignore Agarre Report Abuse Qatar
A2J Champion Author Richmond Posts:3,070 Points:601,975 Joined:Aug 2011	Message Posted: Jul 22, 2012 7:14:12 PM Ignore A2J Report Abuse Really ?
FunMyster All-Star Author Indiana Posts:907 Points:73,215 Joined:Jul 2011	Message Posted: Jul 22, 2012 5:47:45 PM Ignore FunMyster Report Abuse I agree.
ss70 Champion Author Detroit Posts:9,653 Points:1,869,125 Joined:Sep 2005	Message Posted: Jul 22, 2012 1:57:41 PM Ignore ss70 Report Abuse Time for nat gas cars in USA
QualTekGuy Champion Author Illinois Posts:3,061 Points:732,875 Joined:Feb 2007	Message Posted: Jul 22, 2012 12:41:53 PM Ignore QualTekGuy Report Abuse From the people who brought you vegamite.
CC55 Champion Author Georgia Posts:1,309 Points:1,397,465 Joined:Sep 2005	Message Posted: Jul 22, 2012 12:19:58 PM Ignore CC55 Report Abuse Most of that nat. gas is going to China and India.
Yooperheart Champion Author Michigan Posts:3,410 Points:526,050 Joined:Feb 2010	Message Posted: Jul 22, 2012 11:39:39 AM Ignore Yooperheart Report Abuse Amazing what is out there when BIG oil starts to lose ground on the market.
amerk73 Champion Author Dallas Posts:7,045 Points:1,620,105 Joined:Oct 2008	Message Posted: Jul 22, 2012 11:20:29 AM Ignore amerk73 Report Abuse what we can do for them
gbs1 Champion Author Minnesota Posts:1,996 Points:741,625 Joined:Mar 2011	Message Posted: Jul 22, 2012 11:06:53 AM Ignore gbs1 Report Abuse Great news
cookined Champion Author Maine Posts:3,975 Points:2,228,920 Joined:Oct 2005	Message Posted: Jul 22, 2012 8:33:34 AM Ignore cookined Report Abuse Good for downunder.
CorvairHaven Champion Author Cleveland Posts:4,349 Points:1,452,965 Joined:Sep 2008	Message Posted: Jul 22, 2012 8:28:09 AM Ignore CorvairHaven Report Abuse Does this mean the LNG market will cause prices to come down, or just that Australia will get wealthier?
Gascapade Champion Author Fort Worth Posts:3,017 Points:481,705 Joined:Mar 2009	Message Posted: Jul 22, 2012 8:25:44 AM Ignore Gascapade Report Abuse Good for the increasing supplies to the market...hopefully the nat gas market won't become as corrupt, colluded, and price manipulated.....
lindact Champion Author New Haven Posts:8,731 Points:1,715,995 Joined:May 2008	Message Posted: Jul 22, 2012 8:25:10 AM Ignore lindact Report Abuse Let's keep developing this alternative.
Ticobird Champion Author Huntsville Posts:3,226 Points:1,115,040 Joined:Oct 2009	Message Posted: Jul 22, 2012 8:21:57 AM Ignore Ticobird Report Abuse It is beginning to appear that the world is awash in natural gas.
Redink Champion Author Indianapolis Posts:7,190 Points:1,299,020 Joined:Aug 2005	Message Posted: Jul 22, 2012 8:21:42 AM Ignore Redink Report Abuse What are we doing with ours, besides exporting. There is so much that can be done to help reduce oil usage. Big oil won't allow it.
fightbigoil71 Champion Author Milwaukee Posts:7,557 Points:1,544,680 Joined:Nov 2008	Message Posted: Jul 22, 2012 8:20:08 AM Ignore fightbigoil71 Report Abuse Good
pmc3 Champion Author Missouri Posts:3,599 Points:1,023,890 Joined:Mar 2010	Message Posted: Jul 22, 2012 8:19:59 AM Ignore pmc3 Report Abuse and the U.S. sits by debating about a pipeline from Canada.....
mnbeancounter Champion Author Minnesota Posts:4,732 Points:1,061,840 Joined:Oct 2009	Message Posted: Jul 22, 2012 8:19:40 AM Ignore mnbeancounter Report Abuse Good for them!
INBwana Champion Author Indiana Posts:5,451 Points:695,010 Joined:Apr 2011	Message Posted: Jul 22, 2012 8:18:30 AM Ignore INBwana Report Abuse Maybe it will help slow down our export of our resources.
plbell627 Champion Author Dayton Posts:5,138 Points:1,201,305 Joined:Mar 2007	Message Posted: Jul 22, 2012 8:18:26 AM Ignore plbell627 Report Abuse We already have enough natural Gas so we are exporting the surplus thatb will keep prices down.
1958tomg Champion Author Kansas Posts:2,132 Points:544,365 Joined:Oct 2011	Message Posted: Jul 22, 2012 8:17:26 AM Ignore 1958tomg Report Abuse ok
gasman50 Champion Author Portland Posts:8,839 Points:2,408,510 Joined:Nov 2005	Message Posted: Jul 22, 2012 8:17:01 AM Ignore gasman50 Report Abuse Drill baby, drill..........
billk44077 Champion Author Cleveland Posts:3,172 Points:630,580 Joined:Aug 2011	Message Posted: Jul 22, 2012 8:16:22 AM Ignore billk44077 Report Abuse ok
tribill Champion Author Twin Cities Posts:3,342 Points:2,338,960 Joined:Feb 2006	Message Posted: Jul 22, 2012 8:15:16 AM Ignore tribill Report Abuse Whatever...
gws2980 Champion Author Philadelphia Posts:2,181 Points:500,365 Joined:Oct 2010	Message Posted: Jul 22, 2012 8:14:51 AM Ignore gws2980 Report Abuse The more that we export to make money, the more they will drill and poison our earth with the chemicals
aservant Champion Author California Posts:14,200 Points:1,384,040 Joined:Nov 2008	Message Posted: Jul 22, 2012 8:13:43 AM Ignore aservant Report Abuse The more gas available, maybe the more we will keep of our own.
HoosierDaddyKY Champion Author Kentucky Posts:1,267 Points:296,185 Joined:Dec 2011	Message Posted: Jul 22, 2012 8:11:50 AM Ignore HoosierDaddyKY Report Abuse Let's hope for the best.
Gas_Eyes Champion Author Dallas Posts:2,672 Points:643,885 Joined:Mar 2011	Message Posted: Jul 22, 2012 8:11:00 AM Ignore Gas_Eyes Report Abuse The US can also be a big exporter of natural gas to support the prices in this country. The current price is simply too low to encourage more production. Exporting will help fix this.
run4gxc Champion Author Ohio Posts:2,721 Points:611,075 Joined:May 2011	Message Posted: Jul 22, 2012 8:10:28 AM Ignore run4gxc Report Abuse ok
SpruceGuse2 Champion Author Michigan Posts:9,729 Points:2,453,710 Joined:Mar 2006	Message Posted: Jul 22, 2012 8:10:11 AM Ignore SpruceGuse2 Report Abuse Really?...........................
run4gxc Champion Author Ohio Posts:2,721 Points:611,075 Joined:May 2011	Message Posted: Jul 22, 2012 8:09:55 AM Ignore run4gxc Report Abuse ok
suzyq2007 Champion Author Dallas Posts:7,164 Points:1,649,950 Joined:Oct 2007	Message Posted: Jul 22, 2012 8:09:16 AM Ignore suzyq2007 Report Abuse good news for them.
KentsterPA Champion Author Pennsylvania Posts:1,697 Points:548,900 Joined:Aug 2011	Message Posted: Jul 22, 2012 8:09:13 AM Ignore KentsterPA Report Abuse The wave of thr future, to hell with OPEC.
DYSKYPILOT Champion Author Fort Worth Posts:2,897 Points:624,730 Joined:Mar 2006	Message Posted: Jul 22, 2012 8:09:06 AM Ignore DYSKYPILOT Report Abuse Go Aussies.
knot2swift Champion Author Calgary Posts:4,379 Points:696,025 Joined:Nov 2009	Message Posted: Jul 22, 2012 8:08:08 AM Ignore knot2swift Report Abuse Seems the world can't get onto Natural Gas fast enough. As an alternate source of energy to oil, it will keep oil prices down. Lucky for us that we too have lots and lots on this continent.
Tiernan Champion Author Chicago Posts:3,475 Points:818,850 Joined:Sep 2005	Message Posted: Jul 22, 2012 8:07:38 AM Ignore Tiernan Report Abuse Congratulations.
OldMan322 Champion Author Illinois Posts:5,150 Points:1,593,765 Joined:Jul 2008	Message Posted: Jul 22, 2012 8:07:04 AM Ignore OldMan322 Report Abuse I bet the prices will not go down
dhawk24 Champion Author Maine Posts:7,795 Points:1,592,510 Joined:Jul 2008	Message Posted: Jul 22, 2012 8:06:58 AM Ignore dhawk24 Report Abuse Good news!!
KrsnaDragon Champion Author Montreal Posts:2,402 Points:530,325 Joined:Nov 2011	Message Posted: Jul 22, 2012 8:06:46 AM Ignore KrsnaDragon Report Abuse It seems as if natural gas is abundant just about everywhere lately!
checkum Champion Author St. Louis Posts:7,591 Points:1,474,040 Joined:Jan 2008	Message Posted: Jul 22, 2012 8:04:55 AM Ignore checkum Report Abuse hey government, want to spend money on something useful? build the LGN infrastructure so we can start running cars on natural gas!
LuthierKS Champion Author Wichita Posts:3,741 Points:728,955 Joined:Apr 2011	Message Posted: Jul 22, 2012 8:04:47 AM Ignore LuthierKS Report Abuse Good to see fuel supplies increasing in friendly hands.
Garston Champion Author Maine Posts:2,421 Points:473,765 Joined:Jul 2011	Message Posted: Jul 22, 2012 8:03:36 AM Ignore Garston Report Abuse And the point is...
CTarp Champion Author Texas Posts:1,234 Points:607,105 Joined:Apr 2011	Message Posted: Jul 22, 2012 8:02:03 AM Ignore CTarp Report Abuse Great news
Gearitis Champion Author Waco Posts:1,293 Points:727,335 Joined:Sep 2005	Message Posted: Jul 22, 2012 8:01:21 AM Ignore Gearitis Report Abuse Hummmm.....Obama is not trying to control this too? I wonder if he is trying to stop this pipling building?
TA33 Champion Author Massachusetts Posts:1,487 Points:321,040 Joined:Apr 2012	Message Posted: Jul 22, 2012 8:00:39 AM Ignore TA33 Report Abuse good
taxiken Champion Author Twin Cities Posts:5,940 Points:1,545,775 Joined:Feb 2003	Message Posted: Jul 22, 2012 7:56:40 AM Ignore taxiken Report Abuse We need it.
diamondsPA Veteran Author Pittsburgh Posts:351 Points:93,470 Joined:Mar 2011	Message Posted: Jul 22, 2012 7:56:24 AM Ignore diamondsPA Report Abuse Good
Wierbe Champion Author Cincinnati Posts:3,747 Points:1,118,140 Joined:Apr 2006	Message Posted: Jul 22, 2012 7:56:10 AM Ignore Wierbe Report Abuse Anything to get out of the middle East.
CSharpGuy Champion Author Colorado Springs Posts:9,467 Points:1,897,410 Joined:Jan 2008	Message Posted: Jul 22, 2012 7:54:47 AM Ignore CSharpGuy Report Abuse You realize that you have to drill for NG.