Western Australia is rapidly emerging as the next global oil and gas hub, with five operating facilities currently producing around fifty million tonnes of liquified natural gas per annum in 2018. National Energy Resources Australia commissioned an analysis from Knowledge Society on behalf of the Western Australian Premier’s LNG Jobs Taskforce. We reviewed the existing evidence on Australia’s liquified natural gas sector and the benefits of making Western Australia a global liquified natural gas hub and presented the strategies that must be activated for this to happen.
Our analysis formed a manifesto for the taskforce. It curates several key themes, shaping the work of the taskforce. These include governance and the regulatory environment, education, training and skills, infrastructure, innovation and technology, localisation and procurement, downstream industries, renewables and future energies, and ocean industries. Industry-led collaboration is a key opportunity for the sector and could lead to securing an additional 45,000 Australian jobs in the short term. If the state’s natural gas industry is slow to build effective collaborations, up to 15,000 jobs will instead arise in competitive regional locations, such as Singapore and Malaysia.
The opportunity for the industry is significant given its world-leading capability and expertise in delivering reliable liquified natural gas production over many decades – including the opportunity for Western Australia’s Carnarvon Basin to become a showcase of how collaboration can create value and jobs through sharing existing infrastructure, filling existing capacity and building appropriately sized, flexible new infrastructure. This will result in the creation of new jobs, sustainable economic growth and vibrant business opportunities by maximising the value of Western Australia’s liquified natural gas resources. It will see Western Australia develop as a ‘global brand’ and destination of choice for long-term investment in liquified natural gas products and services and the development of energy-intensive manufacturing industries.