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Article
Extending the LNG boom: Improving Australian LNG productivity and competitiveness
May 2013
Australia has been very successful in attracting investments into its resources sector, which has spread wealth throughout the country. Within resources, the LNG sector has seen the largest absolute growth, attracting investment over A$200 billion in the last decade (more than the mining industry). The ‘mining boom’ has in fact been an ‘LNG and mining boom’.
With such a track record, it is natural the country has begun a debate about how to continue this success. Much has been said about factors that influence the attractiveness of Australia for additional LNG investments. However, the debate has so far been inconclusive. One of the reasons may be the lack of a comprehensive fact base on the LNG industry’s economic contribution, relative competitive position and competitive improvement options.
This report aims to inform the debate and move it forward by providing a fact base of Australia’s current competitive position in LNG and the economic benefits at stake. Further, it lays out the full scope of measures for improving Australia’s LNG capital productivity and competitiveness. These measures could be implemented by industry, project operators or these parties in wider partnerships within the community. It demonstrates that no single party can close the productivity gap alone. Working together or sharing the burden will be needed to make full improvement possible.
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Article
Beyond the boom: Australia's productivity imperative
May 2013
Australia has been riding the wave of Asia’s economic growth, supplying coal, iron ore, and minerals to meet unprecedented demand in China and other emerging markets. As commodity prices spiked in recent years, the country has attracted a flood of investment into its mines, processing plants, pipelines, and ports. More money has been invested in Australian resource projects in the past 5 years than in the previous 20.
Asia’s economic and demographic trends point to sustained demand in the decades ahead, but growth fuelled by demand for natural resources carries risk. This report finds that “one-off” factors—including favourable terms of trade and an investment surge—have driven half of the country’s recent growth, obscuring the truth about its overall economic health.
The magnitude of Australia’s resource boom belies some weakening fundamentals. Since 2005, the country has enjoyed 4.1 percent annual gains in income. But growth in labour productivity has fallen to just 0.3 percent. Capital productivity is now the biggest drag on income growth.
Visit MGI to download the report
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Article
MAKING ENERGY PRODUCTIVITY PAY OFF
Stephan Görner
May 2010
Many companies have barely scratched the surface on the urgent issue of using energy more efficiently, writes Stephan Görner in The Australian Financial Review.
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Article
AUSTRALIAN ECONOMY MAY BE RESILIENT BUT WILL NOT ESCAPE FALLOUT FROM WORLD DEBT CRISIS
Michael Rennie
March 2010
Debt has been justifiably newsworthy recently, as Greece and other countries sit on the verge of default, and here in Australia political debate rages about government borrowing.
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Article
BUSINESS MUST HAVE ROLE IN REFORM OF PUBLIC SECTOR
Adam Lewis
October 2009
Last month, Kevin Rudd made a speech that, although not heavily reported, set the government a significant objective and will form an important marker for its success.
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