Perth has used the 18th International Conference & Exhibition on Liquefied Natural Gas (LNG 18) to ignite a key pillar of Australia’s economy and gain international interest in its innovative LNG projects.
The event, held at Perth Convention & Exhibition Centre (PCEC) from 11-15 April, has attracted more than 5,000 participants from around the world, including more than 250 exhibitors from over 60 countries, to a showcase of one of Australia’s fastest-growing export industries. Currently, Australia is the world’s third largest LNG exporter, but, with a number of LNG projects under development, it is on track to becoming the largest LNG exporter in the world by 2020. With abundant offshore and onshore petroleum reserves under development, it also benefits from close proximity to key LNG demand centres in the Asia-Pacific region. In the past 12 months alone, three new LNG projects on Australia’s east coast, APLNG, GLNG and QCLNG, have come into initial production and export stages.
Jérôme Ferrier, Chairman of the French Gas Association and LNG 18 Steering Committee Chairman, pointed out that Western Australia currently has around 10 per cent of global LNG capacity and Australia in total about 18 per cent. More importantly, Australia has the capacity to react and adapt to the new conditions of fast-evolving markets. “There is a need for innovations in producing, financing and marketing of gas projects and Australia shows it can muster the skills and the high level of technology and manpower to meet future demands in terms of project developments,” he said.
The gas and the resources industry is being targeted as a major driver for the Australian economy. Australia is expected to benefit from the growing global demand for gas, which is expected to increase by 50 per cent between now and 2040. LNG 18 provided a showcase for Australia’s innovative projects such as Floating LNG, subsea technology and coal bed methane to LNG. The four-day programme included plenary sessions, workshops, and an exhibition, as well as technical tours to world-leading, local LNG facilities.
Paul Beeson, Chief Executive Officer of the Perth Convention Bureau (PCB), added: “LNG18 is an excellent example of our relatively small, but high-value industry working together to secure a large event. With an economic impact calculated at more than $50 million, LNG18 will deliver multiple dividends to the State of Western Australia and industry.”
Beeson said that after the success of hosting LNG 12 in Perth in 1998, PCB canvassed the opportunity to bid for LNG 18 with the Australian Gas Industry Trust nearly seven years ago. Working alongside PCEC and Arinex as PCO,the bureau led a bidding effort with major support from the Department of State Development, Australian Petroleum Production and Exploration Association (APPEA), and industry gas giants including Woodside Energy and Chevron Australia.
Indeed, recognition of the potential benefits for Australia from the event have seen commercial and political support at the highest level. Grant King, Chairman of the LNG 18 National Organising Committee and Managing Director of Origin Energy, said that Prime Minister Malcolm Turnbull’s decision to address delegates at the event attested to the importance to the national economy of the expansion in Australia’s LNG industry, including new projects on the nation’s northwest, northern and eastern coastlines.
“The domestic and international backing for these new Australian LNG projects represents the largest concentration yet, in Australia’s history, of private capital investment. The Prime Minister’s participation in LNG 18 sends a strong message therefore to the global investment market about the status of this sector and its emerging importance to the overall Australian economy.”
Image credit: City of Perth