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Posts Tagged ‘Superpower’

Australia to become energy superpower?

Posted by Ram Kumar Shrestha on May 20, 2012

Australian Prime Minister Julia Gillard (R) with Chinese Premier Wen Jiabao in Beijing on April 26, 2011. Australia is making billions of dollars selling coal and iron ore to China and other Asian countries. UPI/Stephen Shaver

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ADELAIDE, Australia, May 14 (UPI) — As worldwide energy demand grows, Australia is posed to be a leader in the energy revolution, said Australian Resources Minister Martin Ferguson.

Speaking Monday at the Australian Petroleum Production and Exploration Association conference in Adelaide, Ferguson pointed to a Deloitte report commissioned by the association that says Australia’s combined identified gas resources, excluding shale natural gas, are about 392 trillion cubic feet.

That’s about 184 years worth of gas at current production rates, the minister said.

Liquefied natural gas exports in 2010-11 totaled 20 million tons, for a value of $10.3 billion, he said, making Australia the third largest exporter in the Asia-Pacific region and the fourth largest in the world. Read the rest of this entry »

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