Mr Ferguson said that the value of Australia’s LNG exports has grown by 72 per cent over two years and that although global price declines will see a drop in export value this financial year, volumes will continue to increase.

“Just as we are investing in new LNG production, China is rapidly expanding its LNG receiving capacity to cope with growing demand for cleaner energy,” said Mr Ferguson.

“China’s investment in LNG receival terminals is growing rapidly with three currently in operation, four under construction and many others in the pipeline.”

“I hope that Australian LNG is the predominant source of supply for these new market opportunities,” he said.