The Minister for Resources and Energy, Martin Ferguson AM MP, has officially opened the North West Shelf Venture's (NWSV) Phase Five Liquefied Natural Gas Expansion Project located on the Burrup Peninsula near Karratha, Western Australia.
The $2.6 billion expansion brings a fifth LNG production train online which will produce 4.4 million tonnes per annum (mtpa) and will increase the Venture's LNG production capacity to a total of 16.3 mtpa.
The plant will provide important additional export capacity to customers including Japan, China and South Korea.
Minister Ferguson said; "This important project lifts Australia's total LNG production capacity to almost 20 mtpa and it is likely that Australia will now become the world's fourth largest exporter of LNG.
"Projects such as the Train Five development not only increase Australia's LNG export capacity, they also improve Australia's energy security and provide a source of clean energy for our energy trading partners in Asia.
"Australian LNG will play an increasing role as a clean transitional fuel as the world moves towards more low-emission energy technologies.
"For every tonne of CO2 emitted in Australia during production, LNG saves four tonnes of CO2 when consumed in Japan and nine tonnes when consumed in China. In a carbon-constrained world, Australian LNG is very important to maintain continued sustainable growth in Asia."
The Woodside-operated NWSV is Australia's largest resource project with investment in onshore and offshore oil and gas facilities totalling more than $25 billion.The NWSV is jointly owned by Woodside, Shell, BP, ChevronTexaco, BHP Billiton and Japan Australia LNG.
Minister Ferguson said: "The Australian Government welcomes foreign investment in our resources sectors and we look forward to the continued expansion of the Australian LNG sector.
"This expansion will continue to provide local jobs and generate export income to the benefit of all Australians."