Between 2016/17 and 2018/19, LNG should add AUS$14 billion to Australia’s export earnings, while iron ore is forecast to subtract AUS$10 billion.
The shift follows the construction of US$180 billion of new gas projects. The rise in LNG earnings will be underpinned as three remaining projects under construction hit their stride, it said. These are Chevron Corp’s Wheatstone project, Inpex Corp’s Ichthys and Royal Dutch Shell’s Prelude.
