Gas industry supply chain critical to Australian economy
The Australian gas industry supply chain is crucially important to Australia, according to the Australian Gas Industry Trust.
The Economic and Employment Contribution of the Australian Gas Industry Supply Chain report found that there were more than 46,000 businesses across exploration, extraction, processing and supply, manufacturing, construction, transport, retail, wholesale and professional and technical services which underpinned the gas supply chain in 2020/21.
It found that these businesses provided $55 billion in direct economic activity and more than 165,000 jobs across Australia.
According to the report, the gas industry supply chain provided one in every 54 jobs across Australia.
“The Australian gas industry supply chain is of major importance to the Australian economy and community and has a higher importance than many other industry sectors,” the report said.
“However, the Australian gas industry supply chain is not only an economic one. In regional areas, the gas industry acts as a foundation for prosperity across many townships due to supply chain spend and the livelihood provided to employees and their spend that this delivers to local businesses.
“In short, the supply chain represents a critical element for the viability for many regional communities.”
The report found that WA had the biggest opportunity to enable economic activity using gas as an energy source, estimating almost $160 billion of the
total $469.6 billion in enabled benefits.
WA had the largest number of full-time equivalent employees across the country at 68,847 and the highest supply chain wages and salaries at more than
$6.2 billion over 2020-21.