CSG will grow by 148% (not 150% or 126.8%) despite the demand dropping, according to this research group ... Coal seam gas the growth industry in while explorers to take a hit in 2015 Coal seam gas that is liquefied for export is tipped to be the top performing Australian industry in 2015. Research group IBISWorld predicted revenue from the CSG industry to grow 148 per cent, from $738 million to $1.83 billion. That is despite a recent report by Wood MacKenzie that said demand for liquefied natural gas dropped in Australias major markets of Japan and Korea, with Chinese demand also lower than anticipated. Senior industry analyst from IBISWorld, Caroline Finch, said it was unsurprising that CSG would see the strongest growth, as that was where the bulk of investment had been spent in recent times. Were also talking about an industry thats adopting a new technology from overseas (fracking), she said. With the first shipment leaving Gladstone last week, coal seam gas has reached a tipping point and were going to see really strong growth Caroline Finch, senior analyst, IBISWorld Theres also been really strong demand growth from overseas thats supporting that investment, so theres a lot of ingredients there that add up to strong growth. And this year the CSG to LNG sector develops further from construction to production. abc.net.au/news/2015-01-13/csg-lng-the-performers-for-2015/6013020
Posted on: Mon, 12 Jan 2015 23:00:27 +0000
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