Australia is one of the world’s foremost LNG exporters and despite recent setbacks to global commodity prices, it continues to be a sizeable contributor to the Australian economy, thanks largely to increasing demand from Asia’s emerging economies.
However, with prices expected to normalize at a level well below the record highs seen earlier this century, the Australian LNG industry as a whole is exploring new ways to guarantee low-cost production, keep overheads low, and increase margin at the export phase. “Innovation” has become the buzzword at all levels of industry – from government to owner operators to their engineering, procurement, and construction contractors. Many participants are working with solution providers such as Intergraph to explore new technologies and their application to some of Australia’s largest LNG exploration projects.
Find out more in this recent article from LNG Industry magazine.