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Mining & Resources

Gas ‘a super-growth sector of the future’

15 Oct 2013, by Informa Insights

gas industry market fundamentalsBusinesses may want to start investing in shale gas training now to take advantage of a predicted boom in the industry over the coming years.

New research by Deloitte has highlighted the gas sector as one of five super-growth industries set to add $250 billion to the national economy during the next two decades.

The five industries are in addition to mining, which the report noted will continue to be a primary driver of the Australian economy for the foreseeable future.

Chris Richardson, co-author and part of the Deloitte Access Economics team, said it is all about “catching the next wave”.

“Mining will continue as a major driver of our prosperity over the next two decades and beyond. We need to look at how we can extend our ability to ride the mining wave,” stated Mr Richardson.

According to the report, gas demand will be underpinned by Australia’s desire to have a more environmentally friendly alternative to traditional fuels.

This is particularly true in both Queensland and Western Australia, with both states cited as emerging gas markets.

Queensland’s proximity to Asian nations was highlighted as a positive, with rapid industrialisation in some countries on the continent leading to poor air quality.

The report said: “Queensland’s gas potential offers a clean and green alternative that’s already in high demand.

“The economics are very clear – gas offers the state the opportunity to turbocharge its growth in [the] coming years.”

A similar situation has arisen in WA, with the state having already been at the forefront of Australia’s mining boom and could potentially spearhead growth in gas.

WA exported 200 million tonnes of iron ore annually a decade ago, but projects in the pipeline could see that rocket to 900 million tonnes in the next few years.

But WA managing partner of Deloitte Mike McNulty says it is gas that has the “major development potential” for the state into the future.

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