Western Australia government’s department of Mines and Petroleum revealed that LNG was the most valuable petroleum product for the state in 2014-2015.
Liquefied natural gas brought in AUD 13.8 billion in sales to WA’s mineral and petroleum industry that was valued at AUD 99.5 billion in 2014-2015, the report shows.
WA’s LNG output increased marginally reaching a record 20.4 million tons.
The price, however, affected the overall sales value of LNG which decreased by four percent from last financial year.
LNG production is forecast to grow in the period ahead with supply from new projects coming on stream including Gorgon and Wheatstone, stands in the report.
1 Australian dollar = 0.70775 U.S. dollars
LNG World News Staff; Image: Chevron