Plan to identify gas regions and threats to LNG sector

THE threats to Gladstone's LNG industry will be considered in a Queensland Government issues paper.

The government said the initiative would ensure effective long-term economic resource planning and include a Queensland Gas Supply and Demand Action Plan.

The paper and plan will identify gas regions, likely development and transportation costs and threats to the sector.

It will also consider public and private sector research and whether markets have enough information to make educated decisions.

Mines Minister Anthony Lynham said gas was an important part of the state's economic future.

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

"On the domestic front, natural gas demand on the Australian East Coast is forecast to grow at a staggering 16.5% each year."

The draft issues paper will be released for consultation in October and the final plan should be completed in the first quarter of 2016.

- APN NEWSDESK


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