The approval process for the gas project has taken three years (Gas Today: file photo)
The Queensland Resources Council says federal approval of two giant coal seam gas projects in Queensland will create more than 12,000 jobs and generate billions of dollars.
The BG Group and a consortium involving Santos, Petronas and Total will capture and pipe coal seam gas from the Surat and Bowen Basins to Gladstone in central Queensland.
Michael Roche from the Resources Council says it is a massive announcement.
"These two projects will see Queensland become a serious global player in the export of LNG to our energy hungry Asian pacific neighbours," he said.
"These projects together will be pumping out more LNG than the Gorgon Project in Western Australia so this is pretty big news for Queensland."
Australia's largest domestic gas producer, Santos, says it has to meet tough environmental and community conditions to extract the gas.
Santos spokesman James Purtill says the approval process has taken three years.
"While the project has a large number of conditions placed on it we are very confident that we can meet and exceed those conditions and the conditions of both the commonwealth and the state," he said.
Mr Purtill says Santos wants to work with the community and governments to create thousands of jobs and billions of dollars for the economy.
"It has take over three years so we are very excited to get to this point that's for sure," he said.
"The project has undergone a pretty thorough environmental approval and community consultation process, I would say it was one of the most comprehensive in Australian history."
Meanwhile, Queensland Coal Seam Gas director Ross Dunn says if the projects proceed as planned Australia will become one of the world's leading suppliers of Liquefied Natural Gas.
"Australia is about the sixth largest producer of liquid natural gas around the world and when these projects come on stream and together with the Gorgon Project in Western Australia, that will take us to about the second largest in the world," he said.
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