Australia, defeated by Qatar in a bid to host the 2022 World Cup soccer tournament, may overtake the Persian Gulf nation in liquefied natural gas production in 10 years, Sanford C. Bernstein & Co. analyst Neil Beveridge said.
LNG output in Australia may increase to 80 million metric tons a year by the end of the decade from 20 million tons a year now, the Hong Kong-based analyst said in a telephone interview today. Depending on how many projects are approved, Australia may vault to first among LNG producers and surpass Qatar, he said. Australia was fourth-largest in 2009, behind Qatar, Malaysia and Indonesia, according to BP Plc data.
“Australia is in a sweet spot,” Beveridge said. “The expansion we’re going to see over the next 10 years will be very significant and will take Australia into a competitive position with Qatar as the world’s largest supplier of LNG.”
No comments:
Post a Comment