LNG boosts Northern Territory’s export record

LNG boosts Northern Territory’s export record
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The Northern Territory has achieved its highest ever record of export, reaching $8.1 billion with a 111.5 per cent increase from 2018.

The result, provided by the NT Government, was mainly due to recent exports from INPEX’s Ichthys Liquefied Natural Gas (LNG) project in Darwin.

The $US34 billion Ichthys LNG Project – one of the world’s largest oil and gas projects – is expected to supply more than 8.9 million tonnes of LNG per year over the next 40 years.

Darwin’s two LNG plants, Ichthys and the Darwin LNG facility, operated by ConocoPhillips, employ almost 1000 full-time workers with the vast majority being NT-based.

Australian Petroleum Production and Exploration Association (APPEA) Chief Executive, Andrew McConville, said that it was impressive to see LNG exports from 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.”

LNG exports continue to underpin the ongoing growth and strength of Australia’s economy, according to recent Australian Bureau of Statistics (ABS) figures.

“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,” Mr McConville said.

“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.”

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