Energy companies flock to offshore Australia

The high interest in offshore Western Australia ensures the region will be a major exporter of liquefied natural gas for years to come, according to Resources and Energy Minister Gary Gray. The Australian Government awarded 13 permits during its latest offshore auction, generating more than $170 million in new investments off Western Australia and Tasmania. The government said secondary work from the permits could generate more than $500 in new investments, as reported by UPI.

Major international energy companies, including French-based Total and US-based Chevron, also secured awards for the region, with some of Australia’s offshore natural gas reserves committed to Asian markets.