Boston, MA -- (SBWIRE) -- 03/13/2013 -- BMI View: Australia is on track to become the world's largest liquefied natural gas (LNG) exporter by the end of our forecast period in 2021, surpassing Qatar as a series of major projects come online. However, the spiralling costs of LNG project will most likely slow the momentum in further development of Australia's LNG export capacity. The country will also have to contend with a growing reliance on oil imports as domestic crude oil production declines while refining outlook appears increasingly bleak in face of regional competition.

The main trends and developments we highlight for Australia's oil & gas sector are:

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