The report, Australian energy projections to 2029-30, highlighted the relatively competitive cost structures of gas-fired electricity generation as it is based on mature technologies when compared with many renewable energy technologies.

ABARE Deputy Executive Director Paul Morris said “A shift to lower-emission fuels is expected to result in a significant reduction in coal’s share and increases in gas and renewable energy in Australia’s electricity generation mix.”

“Gas has the potential to play a major role as a ‘transitional’ fuel until lower emission technologies become more cost effective.

“The recent strong growth in coal seam gas resources and production in eastern Australia will play a major role in supporting growing domestic and global demand for gas,” Mr Morris said.

Article continues below…

ABARE also released figures showing an eight per cent increase in LNG exports earnings during the December quarter, buoyed by higher LNG prices.

LNG exports were boosted to $1.9 billion, while actual export volumes decreased by two per cent.

ABARE also recently released the Australian Energy Resources Assessment.

This report highlighted that 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.