Business

Record investment in LNG projects

FEDERAL Mines Minister Martin Ferguson used research showing record investment in Australian mining, giving credit to the speed at which LNG projects were being developed.

In all resource industries, including associated infrastructure, there were $260.7 billion in 98 projects that were ready to build.

Of those, $75 billion would be spent on 29 developments in Queensland alone.

That figure was dwarfed by the exponential growth in both projects being planned in Western Australia, which had 41 projects ready to go worth a total of $135 billion, or half the national total.

Minister Ferguson said LNG projects, including one near Gladstone, were largely to thank for the new cash flowing into the country.

"During this reporting period we have seen the final investment decision on the $34 billion Ichthys LNG project in the Northern Territory, the advancement of the Greater Western Flank gas field, and the $5 billion increase of the BG Group's Curtis Island LNG project."

Energy projects now account for 39 of the 98 advanced projects. This equates to $197.4 billion, or 76 per cent of committed capital expenditure.

Iron ore continues to remain a key part of the resources industry, with 15 projects in the advanced stage of development committing $25.6 billion in capital expenditure.

"BREE has also reported that there are 295 projects at the less advanced stage, with an estimated capital value of over $243 billion," Minister Ferguson said.

"These new projects will continue to have a huge impact on our economic development and will provide new employment opportunities for thousands of Australians."

Topics:  lng martin ferguson mining boom



VIDEO: Shark drone footage acts as tourist lure

Stills from a NSW Department of Primary Industries video showcasing shark monitoring drones.

Great White shark, only metres from surfers, features in top video.

United forging path back into the Premier League

ON THE PARK AGAIN: Drone footage captures Grafton United Premier League players in one of their final training runs ahead of Sunday's FFA Cup preliminary clash.

Grafton United kick off return to the top level in FFA Cup action.

Headspace: the next step

Print

What is the next step for the new Headspace in Grafton?

Local Partners

Bindi Irwin's birthday tribute to her dad

BINDI Irwin has paid tribute to her late dad, Crocodile Hunter Steve Irwin, on what would have been his 55th birthday.

Reality TV show gives Maryborough a boost

*WARNING EMBARGOED until 9.15pm Monday January 30* Sean Hollands and Susan Rawlings pictured after their wedding on the TV series Married At First Sight. Supplied by Channel 9.

Maryborough looks good on reality TV show.

Buderim dad rejects gay son's emotional plea for second time

LOVERS: Grant and Chris have been together for more than three years, and Chris' parents refuse to acknowledge their son's fiance.

Son’s emotional plea rejected again by unmoved father

What's on the big screen this week

Ewan McGregor and Jonny Lee Miller in a scene from the movie T2: Trainspotting.

This week's new releases offer plenty of variety for movie buffs.

Yamba show sounds Crazy

GROOVY POP: Crazy Old Maurice is take to the stage at the Pacific Hotel Sunday afternoon.

Newcastle band to bring the house down in Yamba

Bernard, Kasey, Spooky Men, and more this weekend

Mal Eastick returns with his Blues Bar on Sunday at the Yamba Golf Club.

Touring shows bring mix of genres to Clarence

Duo Hard Drive to rock Clocktower Friday

Hard Drive, Stephen Herbert and Dwayne Doyle, who are playing at the Clocktower Hotel this weekend.

Enjoy Hard Drive at the Clocktower this weekend

$140k damage: landlord says property trashed, contaminated

He had what he calls "the tenants from hell"

Submarine, buses and 3000 tyres removed in $100K clean up

The list of things removed from this property is beyond astonishing

Houses selling like hot cakes

HIGH DEMAND: Maclean Valley 2 Coast principal Ingrid Nott.

Valley's housing market pushed by supply shortage and jobs growth

Popular island resort sells to loaded international investor

OUR PICK: Chris Foey's colourful shot of one of Gladstone's great tourism hot spots, Heron Island.

International investor snaps up piece of Gladstone paradise.

Ready to SELL your property?

Post Your Ad Here!