Australia is expected to generate more revenue from liquefied natural gas over the upcoming financial year, with export volumes set to grow.

The Australian government revealed in its Resources and Energy Quarterly report on Monday that the nation’s LNG export earnings are forecast to increase from an estimated A$32 billion (US$23.5 billion) over the 2020-2021 financial year, which ends on 30 June, to A$49 billion over the 2021-2022 financial year, which begin on 1 July.