"Most of the components of the LNG projects, by far the largest...

"Most of the components of the LNG projects, by far the largest $ wise compared to mining in capex, were modulized and produced offshore in places like Korea.

Perth engineering firms were just not experienced or capable of handling it. "



Sector lead is right in this regard. Alot of the component design and construction for LNG happens overseas. In saying "economic forecasters" and i use it as a term of derision seem to completely gloss over this fact when they model multiplier effects from LNG expected investment capex. They are overly optimisitic. A dollar spend in LNG does not equal a dollar spent in IO as far as flow on effects go. Throw in cancelled capex and the informed won't be surprises when revenue and economic flow on effects is actually far lower than expected