Wa big state big opportunities - stuart russell
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Western Australia is a large state that covers 2.5 million square kilometers and has a population of around 2 million people. It has a strong resources sector focused on mining and natural gas. Major projects in liquefied natural gas are underway worth over $100 billion. The state produces over a fifth of the world's iron ore and 7% of its natural gas. The Western Australian government can help facilitate business relationships and provide advice for European companies interested in opportunities in the large resources projects driving Western Australia's economy.
Wa big state big opportunities - stuart russell
- 1. Western Australia Big state big opportunities February 2013 Stuart Russell Senior Trade & Investment Manager Government of Western Australia – European Office
- 2. About Western Australia WESTERN AUSTRALIA WESTERN AUSTRALIA Area: 2 2.5 M km 2 Western Australia Area: Population: 2.5 M km 2 million Population: 2 million versus Europe Persons/km2: : 0.8 Persons/km 2 0.8 EU EU Area: 4.2 M km2 2 Area: 4.2 M km m~ Population:497 million Population:497 million 0k Persons/km2: : 117 Persons/km2 117 50 ~2
- 3. About Western Australia • Population 2.4 million – which is 10.4% of the nation (73% live in Perth) • Resource abundance: minerals, energy, agriculture • Gateway to Asia and 60% of the world’s population
- 4. Gateway to Asia 4
- 5. About Western Australia Economic Overview • Value: A$239 billion in 2011-12 • 16% of Australian economy, 28% of business investment and 46% of merchandise exports in 2011-12 • Resource projects committed or under construction $167 billion; $151 billion more under consideration • GSP projected to rise 6.0% in 2012-13 Australia $100 = €80
- 6. Mining and Resources Sector 65 oil and gas fields, 975 operating mines, 50 different minerals produced $82 billion of mining investment in 2011/12 - over half of the Australian total WA produced over a fifth of the world’s iron ore and 7% of its LNG in 2011
- 7. Mining and Resources Sector • Value of resources project: $167 billion committed or underway • 50,000 construction jobs and 15,000 permanent jobs created • ≥500 commercial mining projects; over 100,000 employed
- 8. Australian natural gas resources Dominated by Western Australia – Offshore and Onshore Offshore and LNG: A$92B invested – mainly Gorgon and Wheatstone projects Source: WA Department of Mines and Petroleum
- 9. Big Projects: LNG PROJECT STATUS VALUE A$ CAPACITY Gorgon Execution $52 billion 15.6mtpa Pluto Train 1 In operation $13 billion 4.3mtpa Wheatstone Execution $29 billion 8.9mtpa Prelude FLNG Construction $12 billion 3.6mtpa Browse LNG Evaluating tender bids for $30 billion 12mtpa construction (FID expected first half 2013)
- 10. Major Resources Projects (cont..) WA: 40 out of 87 committed projects WA: project value: $141 B Australia- wide: project value $268 B (at October 2012) Source: Bureau of Resources and Energy Economics (Australian Government)
- 11. Government of Western Australia Department of State Development 11
- 12. Investment Opportunities • Western Australia exports to the UK worth over $5 billion during 2011/12 • 16 UK firms have opened new offices in Perth between 2010-12 including:- • Many UK firms have been expanding in Western Australia, including: • Global Energy Group – just completed 3rd acquisition since opening in September 2011 • AMEC Minproc – Nov 2012 awarded $20 million contract extension on Barrow Island JV; opened new offices on St George’s Terrace • Big opportunities in upcoming O&G projects
- 13. How to Connect Finding supply chain partnership opportunities on WA resources projects Project Connect – an invaluable tool for suppliers www.projectconnect.com.au
- 14. How to Connect Project Connect – Major Projects currently advertised: Browse LNG Development – Value $A52 billion, Construction 5-6 years from mid 2013 CITIC Pacific Mining Sino Iron project- US$5.2 billion, Construction started in early 2012 Gorgon Project- $A43 billion, Construction 5 years, Execution Phase Greater Western Flank (GWF) Phase 1 Project- $A2.5 billion, Construction 2011-2016 Hess Equus Development- TBC, Construction Q4 2011- Q1 2013 Macedon Project - $US1.5 billion, Construction 2 years, Execution Phase Midland Health Campus – $340 million, Construction started June 2012 New Children’s Hospital Project - $A1.2 billion, Construction Jan 2012- Late 2015 Oakajee Port & Rail Project - $A3.5 billion, Project currently on hold Southern Seawater Desalination Plant – S1 $944 million (2009-11), S2 $450 million (2011- 12), Execution Phase
- 16. Australian Marine Complex • World class centre of excellence • Infrastructure to support industry • Supports the clustering of marine, defence, mining and oil & gas engineering companies in one location • Facilitates sharing of skills between the different market sectors • Addresses infrastructure issues associated with undertaking major projects in WA • World’s most technologically advanced floating dry dock
- 17. Role of European Office The Western Australian Government – European Office can: Facilitate investor and business relationships by setting up meetings with Government and industry organisations Provide briefing on Western Australia: economy, legislation, processes and markets Give advice on aspects of living, working and doing business in Western Australia
- 18. Contact Stuart Russell Senior Trade & Investment Manager Tel: +44 20 7395 0564 Email: [email protected] Online: www.wago.co.uk twitter.com/wagoeu
- 19. Thank you