Economics
Gas to Beat Coal as Made-in-Australia Export: Chart of the Day
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Liquefied natural gas will overtake coal as Australia’s second-biggest export earner by 2017, according to UBS AG, as China steps up purchases of cleaner energy to fuel its economic growth.
The CHART OF THE DAY shows the value of Australia’s LNG exports will triple to A$60 billion ($54 billion) by 2017, surpassing an estimated A$46 billion in coal receipts, according to UBS forecasts. Australia may overtake Malaysia and Qatar to potentially become the world’s biggest LNG exporter by the end of the decade, according to research from Australia’s commodity forecaster. Australia is already the No. 1 supplier of iron ore, with exports forecast at A$92 billion in 2017.