PERTH (miningweekly.com) – Liquefied natural gas (LNG) production has helped to set international trade records in the Northern Territory in 2019, with A$8.1-billion of trade undertaken.
The state government noted that the A$8.1-billion achieved in the 2019 financial year was a 111.5% increase on the year prior and driven by a combination of a 70% increase in the value of goods exported, particularly with the advent of LNG export from the INPEX Ichthys LNG project, and a modest decrease in the value of goods imported.
“Almost doubling our international trade balance is a huge outcome for the Northern Territory, for the economy and for jobs,” said the Northern Territory’s Primary Industry and Resources Minister Paul Kirby.
Resources, live export and the LNG from Ichthys, which started production in 2018, topped the territory’s major export list.
Petroleum, transport equipment and road vehicles make up some of the territory’s largest imports.
“The Territory export economy has a bright future and figures like these reinforce the importance of our export market for jobs and the economy.
“With our top export destinations all in Asia, this shows the importance of upcoming events such as Facing South, to be held in Shenzen later this year,” Kirby said.