Australia 'puts the gas down' to end 40-year deficit – Morgan Stanley — RT Business

Australia 'puts the gas down' to end 40-year deficit – Morgan Stanley — RT Business:

"Morgan Stanley says Australia will become the world’s biggest liquefied natural gas (LNG) exporter by 2017. This will help the country end 40 years of current account deficits.

“Liquefied natural gas (LNG) exports from Australia could be the next big thing,” The Telegraph cites the report as saying.

According to the research, the county is expected to experience a “huge ramp-up” in LNG output, pushing Australia to top of the list of LNG exporters, leaving Qatar behind by 2017. That pace of development, coupled with coal exports, will make the country a major force in global energy production.

“The ramp-up would be enough to see Australia record a current account surplus in 2015, the first since the second quarter of 1975. It is difficult to overestimate the long-term structural importance of this industry to Australia,” said the bank’s East Asia expert Geoffrey Kendrick."

'via Blog this'