ITF PRRT BRIEFING PAPER 3
Australia is already one of the top five LNG exporters, and set to overtake Qatar as the world's leading LNG exporter by 2021. However, it appears that Australians will miss out on the benefits of the boom, because its royalty regime has failed to keep up with global norms.
A comparison of Australia's top competitors in the growing LNG export industry shows that Australia is falling far behind in its ability to capture sufficient public benefit from private exploitation of oil and gas resources. Australian government revenues from oil and gas in 2014 were significantly less than those of the other leading LNG producers, even after accounting for varying levels of production.