by Mike Bruce, The New Daily

July 17, 2019

Australia this week became the world’s largest net exporter of liquified natural gas (LNG), overtaking the small Middle Eastern state of Qatar.

Australia’s LNG production leapt 21 per cent in the past financial year to 75.1 million tonnes, according to data from energy advisory company EnergyQuest.

The Department of Industry, Innovation and Science also reported in March that Australia’s LNG exports were forecast to increase from $32 billion in 2017-18 to a peak of $51 billion in 2019-20.

World champions in LNG: Great news for the economy, you might think, with those rivers of resource royalties flowing in to government coffers.

The reality, though, is vastly different.

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