Australia is set to overtake Norway to become the third largest gas producer among the Organisation for Economic Co-operation and Development (OECD) countries by 2035, according to an annual world energy outlook report released on Nov. 9.
The International Energy Agency’s annual World Energy Outlook report forecasts Australian gas production ranking third among the OECD countries by 2035.
By this stage, Australia’s gas output will only be surpassed by the United States and Canada, the report said.
Australia’s gas output was expected to eclipse Malaysia’s by 2020 and Indonesia’s by 2025.
The two nations are currently the biggest gas producers in the Asia Pacific region and major LNG exporters.
Graeme Bethune, chief executive of Energy Quest, an energy advisory and research firm in Australia, said Australia’s gas production was set to more than triple over the projection period.