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Australia and the Global LNG Market

Author

Listed:
  • Natasha Cassidy

    (Reserve Bank of Australia)

  • Mitch Kosev

    (Reserve Bank of Australia)

Abstract

Australian exports of liquefied natural gas (LNG) will rise significantly over the next few years as a number of large-scale investment projects reach completion. The bulk of these exports will be to Asian customers under long-term contracts, with their price linked to the price of oil. The Asia-Pacific LNG market over the next decade will be influenced by potential changes to the composition of Asian energy demand, the magnitude of the increase of US LNG exports to Asia and any changes to the traditional oil-based pricing mechanism. The ramp-up in LNG production will boost Australian output and incomes over the next few years; however, the effect on Australia’s living standards will be lessened to some extent by the high level of foreign ownership and the relatively low labour intensity of LNG production.

Suggested Citation

  • Natasha Cassidy & Mitch Kosev, 2015. "Australia and the Global LNG Market," RBA Bulletin (Print copy discontinued), Reserve Bank of Australia, pages 33-44, March.
    • Handle: RePEc:rba:rbabul:mar2015-04
    as

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    File URL: https://www.rba.gov.au/publications/bulletin/2015/mar/pdf/bu-0315-4.pdf
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    References listed on IDEAS

    as
    1. David Jacobs, 2011. "The Global Market for Liquefied Natural Gas," RBA Bulletin (Print copy discontinued), Reserve Bank of Australia, pages 17-28, September.
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    Cited by:

    1. Zhang, Jinrui & Meerman, Hans & Benders, René & Faaij, André, 2020. "Technical and economic optimization of expander-based small-scale natural gas liquefaction processes with absorption precooling cycle," Energy, Elsevier, vol. 191(C).
    2. Batten, Jonathan A. & Ciner, Cetin & Lucey, Brian M., 2017. "The dynamic linkages between crude oil and natural gas markets," Energy Economics, Elsevier, vol. 62(C), pages 155-170.
    3. Yves Jégourel, 2016. "The development of the liquefied natural gas spot market: origin and implications," Policy notes & Policy briefs 1602, Policy Center for the New South.
    4. Xianglong Liu & Jason Nassios & James Giesecke, 2022. "Oil Supply Shocks and Tax Policy Responses in Australia: Insights from a Dynamic CGE Framework," Centre of Policy Studies/IMPACT Centre Working Papers g-336, Victoria University, Centre of Policy Studies/IMPACT Centre.

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