The US may overtake Australia and Qatar to become the world’s largest exporter of LNG by 2024 as production costs in the US are lower than in Australia. For now, that’s not too big a concern as the trade war is tipping the scales of China’s demand in Australia’s favour. But given that LNG prices have slumped as the global gas market is oversupplied, investment in the sector is set to remain subdued. The upshot is that the Australian economy will need to rely on other sectors to support growth in coming years.
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