Oil and Gas
Australia’s known gas reserves have grown rapidly over the past two decades, making it the largest reserve-holder in the Asia Pacific region and the fourth-largest exporter of liquefied natural gas (LNG) in the world (Source: Queensland Government, Department of Natural Resources and Mines, Queensland coal statistics for year ended June 2014). Given current and future projects in the pipeline, Australia could overtake Qatar as the world’s largest producer of LNG as early as 2017 (Source: GBI Research, 2012).
Coal seam gas (CSG) is set to be the focus of Australia’s gas sector over coming years. With Queensland home to 92 per cent of Australia’s CSG resources, the state is well placed to benefit from booming investment in CSG to LNG projects (Source: Australian Gas Resource Assessment, 2012).
With more than $65 billion worth of oil and gas extraction projects already under construction in Queensland, and another $21 billion under consideration, there is a wealth of opportunity for companies to become involved in supplying both upstream and downstream products and services for these projects (Source: Deloitte Access Economics, Investment Monitor, September 2014).
“ Brisbane cannot be underestimated as a city from which to conduct business globally, especially in the mining space.
Geoff Knox, Chief Executive Officer - GE Mining
Brisbane, as the business centre for Queensland’s unfolding gas boom, has become a major hub for energy project developers and service providers in recent years. Given its proximity to the epicentre of this once-in-a-lifetime boom occurring in the Australian gas industry, there has never been a better time for gas service providers to invest in Brisbane.
Companies in the Brisbane market include Santos, QGC (BG Group), Arrow Energy, Shell, Petrochina, Origin Energy, Bechtel, Connoco Philips, Total, Kogas, Schneider, ABB, Cameron International, Clough Seam Gas, Fluor, General Electric, Laing O’Rourke, Halliburton, Thiess, Weatherford International and WorleyParsons.
Increasing global demand for LNG, as well as new and emerging opportunities in shale gas and coal seam gas, provides ongoing opportunities for expansion and investment in Queensland’s energy and resources industry. Brisbane is the closest major Australian east coast capital city to Asia and home to one of Australia’s fastest-growing capital city deep-water ports, the Port of Brisbane, making Brisbane well placed to cater to the growing energy and resources demands of the Asia Pacific market.
Brisbane's Competitive Advantages
A hub for energy and resources innovation
Brisbane’s population is young, skilled, well-educated and culturally diverse. The city is home to three world-class universities, has a rich research environment, and a government focused on supporting innovation. Brisbane is internationally recognised as a centre of excellence in the field of mining equipment, technology and services (METS) and has Australia’s highest concentration of METS companies compared to other major cities (Source: Austmine Industry Insights Report, June 2013).
A large number of world-renowned industry research and education facilities are well established in Brisbane including: the Queensland Minerals and Energy Academy; UQ Sustainable Minerals Institute; Queensland Centre for Advanced Technologies; and Cooperative Research Centres (CRCs) such as CRC Mining and the CRC for Optimising Resource Extraction.
Excellent economic fundamentals and opportunities for growth
With an economy valued at $135 billion, Brisbane is the economic hub and driver of the Queensland economy. Brisbane’s economy is forecast to grow by more than 60 per cent to $217 billion by 2031 and the resources and energy sector will continue to drive a significant share of this growth (Brisbane City Council, Economic Development Plan 2012-31).
Brisbane is the closest major Australian east coast capital city to Asia and home to one of Australia’s fastest-growing capital city ports, the Port of Brisbane. This means Brisbane is well placed to cater to the growing energy and resources demands of the Asia Pacific market.
Investment in energy and resources projects requires ongoing investment in strategic economic infrastructure to underpin the industry’s sustainable growth and development. Queensland’s continued ability to service the growth in global demand for its resources is supported by world-class rail infrastructure and Australia’s northern-most deep water port, the Port of Brisbane.
Industry representation and advocacy
Brisbane is home to the most organised and well-resourced mining industry bodies in Australia including Association of Mining and Exploration Companies, Austmine, the Queensland Resources Council and the Mining and Energy Services Council of Australia all of which operate to secure a policy and economic environment conducive to the long-term sustainability of Queensland’s energy and resources industry.
For more information, please contact the Investment Attraction team.
Steven Silvester, General Manager, Investment Attraction
Ph: +61 (0)7 3006 6239