For decades iron ore and coal have driven Queensland’s resource sector economy.
But some experts are saying the future is destined to be under-pinned by massive reserves of gas.
Jon Healy reports.
Under the shadow of a budget forecasting large-scale job cuts, the strength of the state’s gas sector was on display in Brisbane this morning.
The Queensland Gas Convention gives stakeholders an opportunity to see just how the gas industry in Queensland is faring.
Some manufacturers are experiencing a new era in the demand for their product.
Ian Pitcher, Director Exploration Drill Rigs: “Right now the gas industry is far and away the stronger of the two industries. The minerals industry has suffered badly in the last three or four months, so the demand for drills in that area has declined.”
While the minerals industry stalls, machines like this multi-purpose, twenty-two-tonne drill are now driving the gas industry to the forefront of Queensland’s economy.
Deputy Mayor Adrian Schrinner is optimistic about what the gas industry’s growing prosperity will mean for Queensland.
Adrian Schrinner, Deputy Mayor: “We are at the heart of the gas industry in Australia and Brisbane is very much a hub for the gas industry.”
But business forecaster, Frank Gelber, is adamant we haven’t heard the last of the mining boom.
Frank Gelber, Chief Economist BIS Shrapnel: “What people are talking about when they talk about the end of the boom is a question about sustainability but it’s not about this current round of projects which is already there.”
And he’s adamant that the Queensland economy is in good shape.
Jon Healy, QUT News.