From the more recent reviews of the Federal Government’s action plan for Australia, it has brought to light the benefits of the nations growing gas and oil industry. A number of positive incentives have come from this, including increased work and a substantial growth in our industry. It also is boosting our ranking towards international competitors in the resource development sector. Australia is now positioned as a leader in the global energy development due to our wide range of resources and strong economic future expectations for growth.
“A 2013 report from the Australia Workforce and Productivity Agency predicts that more than 22,000 new jobs will be created in the industry by 2018 when most of the $200 billion worth oil and gas projects now under construction move into production.
We can now aim much higher. There is the potential for another $180 billion in investment in the oil and gas industry over the next two decades, which would create 150,000 jobs across the Australian economy.”
The EIA lists Australia’s strengths in the industry, outlining that in 2013 Australia was the worlds third-largest liquefied natural gas exporter (LNG). This being a leading field in Australias economy, making a significant difference to our economic growth and overall turn over. Our natural gas production has increased significantly in the past decade due to a range of new projects, making us a leader in the Asia-Pacific region.
In 2015, Australia gas leaders will unite to discuss the future of domestic gas in Australia (Gas Today, 2014). The conference will introduce a greater understanding of energy security, policy and pricing issues current in Australia’s domestic gas industry. A stronger focus will be placed on solutions towards the challenges currently in domestic gas producers, bringing together regulators and federal policy makers.
Australia is moving in a positive direction with our oil and gas resources, which are playing a strong rule in our future success.
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