Australia’s Northern Territory recorded its highest levels of international trade in the year to 2019, reaching $8.1 billion with a 111.5% increase on the previous year, according to government figures. The result was mainly due to recent exports from INPEX’s Ichthys LNG project in Darwin, according to the Australian Petroleum Production and Exploration Association (APPEA).
The US$34 billion Ichthys LNG Project—one of the world’s largest oil and gas projects —is expected to supply more than 8.9 mtpa of LNG over the next 40 years.
Darwin’s two LNG plants, Ichthys and the Darwin LNG facility, operated by ConocoPhillips, employ almost 1,000 full-time workers with the vast majority being NT-based.
APPEA Chief Executive Andrew McConville said it was impressive to see LNG exports providing a major economic boost for the Territory.
“As we are seeing right across Australia, the LNG export industry is a significant source of strength for our economy and will provide decades of future growth and prosperity,” McConville said in a statement. “The oil and gas industry has invested more than $350 billion in the economy over the last decade and this investment will deliver decades of growth, exports and jobs for Australia.
“However, for the LNG sector to continue to thrive and be a key driver of the economy, exploration and development must be fostered not restricted —and industry must continue to have confidence to invest.”
2023-01-23 - Today's featured 25 Influential Women in Energy honoree is Carrie Carson, director of commercial development at Oxy Low Carbon Ventures.
2022-12-08 - The past IPAA vice chairman will replace Jim Wilkes as the association’s chairman for the 2022-2024 term.
2022-12-08 - Richard Miller began serving as Tullow Oil's interim CFO in April of 2022.
2022-12-08 - Natural gas-focused firm launches platform for investments in storage, transport and infrastructure.
2023-01-05 - Similar contracts represent €250 million to €500 million (US$263 million to US$526 million) in revenue, Technip Energies said.