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(L-R) Chrissy Joll, Tracey Cuttriss-Smith, Kimberley Lehto-Head and Kristy Marks (Local Buying Foundation) Aboutusgeneric_2 Port csg Jason Kelly of Mackay Conveyor Equipment accepts the Chasing Foreign Markets Award from sponsor Helloworld Mackay and Mt Pleasant’s Mark Walter. csg (L-R) Frank Gilbert, Raj Guruswamy (Adani), Julianne Gilbert MP (Member for Mackay) and Garry Scanlan (Greater Whitsunday Alliance). (L-R) Mastermyne CEO and RIN Chair, Tony Caruso, was honoured on the night with the Tony Britton award for outstanding dedication and enthusiasm to the resource services sector. He was presented with the award by the late Tony Brit. Suzanne Brown and Scott McSwann (McKays Solicitors) fifo (L-R) Assoc. Professor PreethiPreethichandra,RenetteViljoen and Professor Pierre Viljoen (CQUniversity). Greg Byrne, Downing; Ian Reed, QNP Aboutusgeneric_1 (L-R) Peter Shaw, Deirdre Schill, Jason Sharam, Joanne Sharam, Charmaine Ivey-Nemitz and Chris Nemitz (Linked Group Services) (L-R) Annabel Dolphin (Miles Dolphin Consulting Group), Vivienne Gayton (Mastermyne) and Holly Moore (Miles Dolphin Consulting Group).
(L-R) Chrissy Joll, Tracey Cuttriss-Smith, Kimberley Lehto-Head and Kristy Marks (Local Buying Foundation) Aboutusgeneric_2 Port csg Jason Kelly of Mackay Conveyor Equipment accepts the Chasing Foreign Markets Award from sponsor Helloworld Mackay and Mt Pleasant’s Mark Walter. csg (L-R) Frank Gilbert, Raj Guruswamy (Adani), Julianne Gilbert MP (Member for Mackay) and Garry Scanlan (Greater Whitsunday Alliance). (L-R) Mastermyne CEO and RIN Chair, Tony Caruso, was honoured on the night with the Tony Britton award for outstanding dedication and enthusiasm to the resource services sector. He was presented with the award by the late Tony Brit. Suzanne Brown and Scott McSwann (McKays Solicitors) fifo (L-R) Assoc. Professor PreethiPreethichandra,RenetteViljoen and Professor Pierre Viljoen (CQUniversity). Greg Byrne, Downing; Ian Reed, QNP Aboutusgeneric_1

2017 at a glance - CSG
Massive growth in value to Australia’s economy, but opportunity still limited locally.
Wednesday 11 January 2017  

The Central Queensland CSG industry will deliver on its economic promise over the next two years with the total value of LNG exports out of Australia expected to increase by 50 percent to $37 billion.

The massive increase in exports and value reflects the fact that more than $100 billion dollars has been spent in the last decade building a new Australian LNG industry, and these projects are now in the operational stage.

However, local businesses shouldn’t expect much change in the outlook for an opportunity on the ground.

While there remains significant work in maintenance and upstream gas well expansions in the Surat Basin, the Office of the Chief Economist is not flagging a noticeable improvement in gas prices.

Without a major improvement in prices, it’s unlikely that there will be the stimulus required for major new CSG construction projects - like Arrow Energy’s Bowen Gas Project.

“The price of LNG into Japan, Australia’s largest market and the world’s largest importer, averaged US$7.05 a gigajoule in October, up from US$6.13 in July reflecting the effect of the oil price rally during the first half of 2016,” the OOCO said.

“LNG contract prices are expected to rise over 2017 and 2018, in line with the forecast for a recovery in oil prices to over US$60 a barrel.”

Not surprisingly China is expected to be the fastest growing market for LNG following a government decision double its allocation in their energy mix from five percent to ten percent.

In 2016 Chinese LNG imports increased 28 percent and are expected to increase by 34 percent next year.

Australia's total gas production is projected to increase 58% between now and 2018.

 

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