A snapshot of relevant Australian energy industry statistics.
The Australian energy sector directly accounts for 5% of gross industry value-added and 20% of total export value.
Jobs & Royalties
The economic benefits to Australia and regional communities are very significant and ongoing. The industry generates highly skilled jobs, royalties, export earnings and government revenue. The recent wave of investment in LNG has seen $200 billion invested in regional Australia and created thousands of ongoing jobs.
Further development of the country’s extensive gas reserves would greatly enhance energy security as gas has the best combination of abundance, cleanness, affordability, reliability and flexibility of any fuel.
Exports Powering Asia
In 2016, Australia’s combined domestic and export gas production was 3.2 TCF. Although that’s a lot of gas by international standards, when compared to the total resource, we have more than enough natural gas for domestic and export purposes for a very long time.
CSG is a significant source of domestic gas and LNG exports in eastern Australia. Australia’s identified CSG reserves have grown substantially in recent years. In 2014, the CSG reserve in Australia was 45 520 PJ (43 tcf) and accounted for about 38% of the total gas reserves. More than 93% of the reported CSG reserves are in Queensland; the remainder are in New South Wales. In addition to reserves, Australia has substantial contingent resources (33 920 PJ; 32 TCF) of CSG.
From 2012 to 2017, domestic demand for natural gas has dropped slightly from 500 PJ to 470 PJ. This is reduction in demand is due to a range of factors, including changes to the manufacturing mix, electricity generation and increased prices.
Australia will soon become the largest gas exporter in the world, overtaking Qatar. Natural gas is cooled and converted into LNG so it can be easily shipped to customers overseas, most of whom are in Asia.
Australia has an estimated 46% of uranium resources, 6% of coal resources, and 2% of natural gas resources in the world. In contrast, Australia has only about 0.3% of the world’s oil reserves.
Australia’s significant gas resources are located mostly in the Carnarvon, Browse and Bonaparte basins off the northwest coast, with smaller resources in the Gippsland Basin offshore Victoria and the onshore Cooper-Eromanga Basin in South Australia.
Substantial resources of coal seam gas are found in Eastern Australia in the Bowen, Surat and Sydney basins.
Australia has more than 257 trillion cubic feet (TCF) of identified gas resources and a further 885 TCF in prospective resources.
Did you know?
AGL was given a royal charter charged with the responsibility of lighting Sydney's streets. The lights were lit on 24 May 1841 to celebrate the birthday of Queen Victoria. The gas originally used in these lights was town gas which is made by heating coal in the absence of oxygen. When natural gas was discovered in Australia, the system was converted over to use the much cheaper and cleaner fuel source.