Ian Macfarlane told delegates at the Australian Petroleum Production & Exploration Association conference in Melbourne on Monday that Australia’s LNG export value for the 2014-15 financial year, which ends 30 June, is expected to total A$18.2 billion (US$14.6 billion).

He added that figure is expected to grow at an annual rate of 21% to A$46.7 billion by 2019-20, with the country on track to become the world’s largest LNG exporter by the end of the decade.

Meanwhile,