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Qld welcomes $1.7 billion LNG investment

26 November, 2015

Queensland Premier Annastacia Palaszczuk recently welcomed an announcement by QGC that will support 1600 jobs for Queenslanders.

Palaszczuk said QGC's $1.7 billion investment in the LNG industry was a welcome shot in the arm for the Queensland LNG industry.

"As the LNG industry in Queensland moves from the construction phase to the operational phase, there have been fewer jobs in the industry than there were in the boom years," Palaszczuk said.

"QGC's announcement today that they are investing another $1.7 billion in this industry is a welcome boost to the Queensland economy that will support 1600 jobs.

"It shows that we have the right policy settings in Queensland and businesses such as QGC are confident in investing in our state.

"I visited Curtis Island in May this year to see their LNG plant and we will see millions of tonnes of LNG exported through the facility.

"I said then that the LNG industry had a strong future in Queensland and QGC's announcement today is proof of that."

State Development Minister Anthony Lynham said Queensland's LNG exports were projected to hit $15 billion by 2016-17.

"That means valuable export dollars and annual royalties while supporting thousands of jobs for Queensland," Dr Lynham said.

"By 2018, Queensland could be the world's fourth largest LNG exporter and, by the end of the decade, Australia has the potential to be the world's leading LNG exporter.

"It’s not only operational and construction jobs that will be supported.

"It's small businesses in local towns near construction that will also benefit."

Dr Lynham said around 20 per cent of gas used in Queensland households came from LNG and that LNG would play a growing role in global energy needs in the future.

"Gas fired power is cleaner than coal fired power and will play an increasingly important role in global energy needs," he said.

"Queensland has strong partnerships with key markets like Asia and we’re well-placed to benefit from this and play an increasing role in a global clean energy future.

"That means our economy benefits, our state benefits and Queensland workers benefit.

"QGC's announcement that it will invest $1.7 billion in this very important industry is welcome news for Queensland."

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