Business

Gas investment will continue as LNG projects come online

The QCLNG project on Curtis Island in January, 2014.
The QCLNG project on Curtis Island in January, 2014. Bechtel

INVESTMENT in Queensland's gas industry is set to continue as LNG companies bring major projects online and continue to explore opportunities to expand, BG Australia chairman Catherine Tanna says.

Speaking at the Australian American Chamber of Commerce Energy Conference in Houston last week, Ms Tanna said in the next two decades the natural gas industry would lift Queensland's real gross domestic product by an average of $25 billion a year, provide 20,000 long-term jobs and generate up to $275 billion in royalties and taxes.

BG Group is a partner in the QCLNG project on Gladstone's Curtis Island.

Ms Tanna said Queensland businesses would play a vital role in servicing the industry.

"We present significant opportunities for further services and innovation over the 20 to 25-year initial life of Queensland's gas projects," she said.

"During this period, investment in total project operations and expansion is expected to be about $3 billion or more every year.

"Enterprising businesses will continue to have many opportunities to get involved as the industry seeks a deeper service industry and streamlines its operations.

"We will require everything from maintenance and catering to engineering design, construction and enhanced information and control systems."

Ms Tanna said the company didn't expect to have any any trouble attracting the right people, equipment and capital, especially as the Federal Government had declared the country was open for business.

More than 18,000 wells are expected to be drilled in Queensland the next 20 years. BG Group's QCLNG project alone has drilled nearly 2000 wells and has plans for a further 4000.

"And the pipelines to connect them all, for our project alone, would reach from Houston to Brisbane and more if laid end to end," Ms Tanna told the conference.

She said Queensland, which had come from a standing start only five years ago, was expected to account for a third of Australian production by 2020.

"Put another way, Queensland's 25.3 million tonnes of production a year will be equivalent to 5% of global supply and will eclipse Russia for sixth place internationally."

You can read the full transcript of Ms Tanna's speech here.

Topics:  bg group curtis island gas qclng



How to survive a bushfire in your car

IT SOUNDS like a nightmare, but it can happen.

Eight reasons to join the RFS

SPREAD across 93% of Queensland, the Rural Fire Service has about 36,000 volunteers. And you could be one of them.

What if my insurer gives me grief?

CLAIMING your insurance cover after a natural disaster can go one of two ways. It can be a breeze, or like pulling teeth.

Top 10 cheapest houses on the market in the Gladstone region

98 Dalrymple Drive Toolooa

A LIST of Gladstone's best, cheapest houses

'He can see!' Mum's tears as boy fights Taipan bite

Eli Campbell, 2, is recovering at Brisbane's Lady Cilento Children's Hospital after he was bitten by a taipan three times at Agnes Water.

Todder bitten by a snake can now see, talk and walk.

Police allege man killed cat and set house on fire

Bundaberg Police investigate a suspicious house fire in Brand St Walkervale.

Crime scene set up in Brand St Walkervale

Local Partners

Mandy Moore feels like she's 60

Mandy Moore sees herself as a 60-year-old rather than a 32-year-old

Goooodbye Hamish and Andy (from our radios)

Hamish and Andy

The pair have been on air since 2006

David Attenborough on facing his mortality

Sir David Attenborough in a scene from the TV special The Death of the Oceans.

Life without Sir David Attenborough is hard to imagine

Saying "I do" changed Shia's outlook on marriage

Shia LaBeouf has a new outlook on marriage since he tied the knot.

Singer tunes in to first movie role

Tori Kelly voices the character Meena in the movie Sing.

Musician Tori Kelly voices Meena the teenage elephant in Sing

Cricketing greats bring Aussie mateship to commentary box

Cricket commentator Adam Gilchrist.

ADAM Gilchrist enjoys the fun of calling the Big Bash League.

Chinese locked out of Australian property market

The rules are different if you're a foreigner

The buyer was from China - the trouble started right there

Morrison signs off on new affordable rental model

Australia's Treasurer Scott Morrison speaks during a press conference after a meeting of the Council of Federal Financial Relations at Parliament House in Canberra, Friday, Dec. 2, 2016.

Scott Morrison signed off on development of a new financing model

Family scoop bargain $160K 'holiday home' in Gladstone

BARGAIN: A Biloela family has purchased 21 Ann St for $160,000. They try to get to Gladstone at least once a month.

ADVERTISED as "renovate or demolish", but snapped up for getaway.

REVEALED: Gladstone property prices hit lowest in downturn

Aerial View overlooking Kin Kora residential area, Gladstone.



Photo Brenda Strong / The Observer

GLADSTONE PROPERTY prices have hit their lowest since the bust.

Coast high-flyer's fight back from bankruptcy, $72m debt

Scott Juniper went from millionaire developer to declaring bankruptcy in2012, now he is back on top of his game again with new developments including this one in Coolum.

'Apocalyptic lending storm' causes financial collapse.

Ready to SELL your property?

Post Your Ad Here!