Good news for Australian miners

Positive trends this year include a growing international metallurgical coal market, especially in Asia, and Australia is well positioned to meet demand.

More than 40% of Australia's coal is expected to come from new mines in 2040.

A new World Energy Energy report also says that increased demand for coal will mean the development of new coal basins in Australia, such as the Galilee Basin, Federal Resources Minister Canavan said.

“All this will require the development of new mines, ports and other transport infrastructure, including in the Galilee basin. This is great news for the Australian economy as well as tens of thousands of Australian coal workers and their families, ”he said.

The Queensland Resource Council (QRC) notes that the state's resource industry can play an increasingly important role in powering the global economy, and CEO Ian McFarlane noted that the region's gas industry can also affect both domestic industry and international markets, with natural gas will become the second largest fuel in the global energy mix by 2030.

Australia's liquefied natural gas (LNG) exports will nearly double from current levels to 108 million tonnes by 2040.

“By 2040, China's gas demand is expected to triple to 710 billion cubic meters (about 26,500 PJ), making it the world's largest gas-importing country, setting it on track to surpass Japan as the world's largest LNG importer in the middle next decade, ”Canavan said.

“Along with the expected renewal in coal demand driven by the WEO, these forecasts have put Australia in its place when it comes to the benefits of global gas demand. We are very well positioned to play an important role in meeting the growing global demand for LNG - most of which will be in our region. ”

Canavan said the numbers also confirmed the importance of ongoing investment in the LNG sector in Australia.

“We are currently exporting about 58.5 million tons of gas, and this figure is expected to almost double in the next 20 years or so.

“About US $ 200 billion has been invested in LNG production in Australia over the past decade, and we are on the eve of the opening of INPEX onshore LNG processing facilities in Darwin, which will produce and export about 8.9 million tons of LNG and about 1. 65 million tonnes of LPG per annum over an expected 40 years.

“An even more exciting prospect is the expectation that future gas supplies will increasingly come from unconventional sources and that global shale gas production will increase.