Economics of Business 1: LNG Demand and Supply in Australia Report
VerifiedAdded on 2020/03/13
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AI Summary
This report examines the impact of increasing international demand on the prices of Liquefied Natural Gas (LNG) in Australia. It analyzes the factors influencing LNG demand and supply, including global consumption, emerging economies' import forecasts, and supply-side challenges. The report utilizes demand and supply curve theory to illustrate the potential price hikes due to increased demand and potential supply shortages. It also discusses the Australian government's role in managing LNG exports and maintaining market equilibrium, suggesting strategies like taxation and subsidies. The analysis highlights the potential economic imbalances and the need for government intervention to ensure stable LNG prices in the future, supported by data and forecasts regarding LNG imports and consumption. The report concludes by emphasizing the importance of balancing global demand with domestic supply to maintain market equilibrium within the Australian LNG sector.
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