Compiled by the Australian Bureau of Agricultural and Resource Economics (ABARE) and Geoscience Australia, the minister has launched the Australian Energy Resources Assessment (AERA), which examines Australia’s identified and potential energy resources.
Mr Ferguson (pictured) said “The two big findings are the extraordinary potential of coal seam gas and unconventional gas resources, and for the first time, we can see just how extensive Australia’s renewable energy resources are.”
Australia’s energy exports are projected to continue to grow until 2030 to meet global demands for energy. Net energy trade is expected to increase by 3.9 per cent each year over this period, with exports of LNG to rise significantly.
Australian Petroleum Production and Exploration (APPEA) Chief Executive Belinda Robinson said “The AERA report comprehensively puts to rest any concerns about whether Australia has enough energy, including gas, to satisfy a growing domestic market at the same time as taking full advantage of the export opportunities for LNG.”
Article continues below…Mr Ferguson said “Sustainable energy security requires a vast expansion of Australia’s infrastructure. The share of coal in our domestic mix is expected to fall, from three-quarters today to less than half in 2030. At the same time, the proportion of energy from gas and wind will rise. Gas, for instance, will be used in more than one third of Australia’s electrical generation.”
