As the pandemic eases and the global economy recovers, $11 billion of Australian natural gas projects could be sanctioned as soon as next year, according to a report released this month by consultancy Wood Mackenzie.

The country has helped drive growth in global liquefied natural gas (LNG) supplies in recent years and exports are expected to drive the next wave of Australian final investment decisions (FID) next year.

“After doing everything possible to tighten belts this year, Australian operators will open their wallets and start spending,” said Wood Mackenzie senior analyst Daniel Toleman. “The backlog of FIDs will begin to clear as a fresh round of projects are sanctioned. But for this to occur, there has to be continuing improvement in the macro-environment and prices...