India demand for coal to overtake Asian rivals

Demand for coal will continue to increase during the next few years, but not as strongly as it has for the past few, according to The Australian.

The International Energy Agency's report into global demand for coal found that the main driver of the international market was China, although India was growing quickly and likely to become a bigger importer than China within the next five years.

Australia to be an energy ‘superpower’

Broking house Morgan Stanley believes Australia will become a global gas superpower by the middle of the decade and eliminate its current account deficit for the first time in almost 40 years, according to the Sydney Morning Herald.

“Liquefied natural gas exports from Australia could be the next big thing,” said the bank in a new report.

It predicted a huge ramp-up in LNG output that could transform the country's economy, claiming that Australia could overtake Qatar to become the world's biggest exporter of LNG as soon as 2017, rather than 2030 as widely assumed.

By then, Australia would be a major force in global energy production, with LNG and coal exports together matching the country's vast iron ore shipments.

State anger at Abbott's call on Olympic Dam

South Australian Premier Jay Weatherill has chastised Tony Abbott for his claims BHP Billiton could reverse its decision to mothball the Olympic Dam expansion within months, according to The Australian.

The Prime Minister said changing economic conditions brought by the election of his government could prompt an imminent announcement by the mining company. But he yesterday refused to confirm whether he had spoken directly with the company.