Australian state’s decade of LNG exports pours $127 billion into economy

Australian Energy Producers (AEP), representing the country’s upstream oil and gas exploration and production industry, has revealed a $127 billion boost to Queensland’s economy, thanks to the Australian state’s decade of liquefied natural gas (LNG) deliveries.

An economic analysis, contained within the ‘Economic Impact of Queensland Natural Gas and LNG 2014–24’ report, by Lawrence Consulting, which was commissioned by Australian Energy Producers, has found that the industry directly spent $58.6 billion in Queensland over the last decade, including $42.5 billion with more than 3,000 local businesses, community groups, and charities.

Keld Knudsen, Australian Energy Producers’ Queensland Director, commented: “As Queensland’s natural gas industry celebrates the significant milestone of a decade of LNG exports, it is worth reflecting how the industry has transformed Queensland’s economic and energy future. 

“This investment is paying dividends for all Queenslanders, delivering reliable and affordable energy for millions of homes and businesses, while unlocking billions of dollars each year in economic activity and government revenue to help fund the essential services and infrastructure our communities rely on.”

As the report shows that Queensland’s natural gas industry contributed $127 billion to the state economy while supporting nearly 60,000 jobs in its first decade of LNG exports, Australian Energy Producers’ Queensland Director emphasized that the findings reaffirmed the gas industry as a key driver of Queensland’s economic prosperity and energy security. 

Knudsen underlined: “Every LNG tanker that departs Gladstone represents around $4.5 million in royalties paid to the state, $11.2 million in spending with local businesses, and millions more in salaries, community contributions and taxes.

“Long-term policy certainty is key to driving more investment in new gas supply and realising Queensland’s full potential for economic growth, job creation and energy security – this presents a significant opportunity for the Queensland government as it finalises its energy roadmap in coming months.”

According to Australian Energy Producers, the report’s key findings of the sector’s contribution in the period 2014-24 include $127 billion added to Queensland’s gross state product and $58.6 billion spent across Queensland over the decade, which comprised $42.5 billion in spending with 3,178 businesses and 307 community groups, $7.2 billion in payments to the Queensland government, $695 million paid to local councils, and $8.2 billion in wages to Queensland workers.

Knudsen describes Queensland’s LNG export industry as an integral part of regional communities across the state, underpinning local jobs, businesses, and services.

In addition, Queensland’s gas industry is seen as a major contributor to the national economy, providing reliable energy for the east coast gas market and a large share of the $21.9 billion the Australian gas industry paid in Commonwealth and state taxes in 2024–25.

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