Global energy demand spikes Australia’s energy production
Release Date: 2010-04-19
Increasing global demand for energy has led to significant growth in Australia's energy production according to the Energy in Australia 2010 report released by the Federal Government.“Over the 10 years from 1997–98 to 2007–08, energy production increased at an average rate of 3.5 per cent a year, compared with 3.2 per cent over the previous 10 years,” the report states.
Underlining that Australia now exports more than three-quarters of the energy than it produces, Mr Ferguson said that Australia aims to be the second largest exporter of LNG behind Qatar.
“Australian LNG was a $10 billion export industry in 2008–09. If the Ichthys, Browse, Sunrise, Prelude, Wheatstone, Gladstone LNG and expanded Pluto projects proceed by the middle of the coming decade, exports could be in the order of $50 billion by 2015–16.”
Production of coal seam gas (CSG) in particular has increased significantly in the past seven years with its share of total Australian gas production increasing from 2 per cent in 2002–03 to 9 per cent in 2008–09.
The report also highlights that since 1997–98, natural gas consumption has increased at an average annual rate of 4 per cent each year, compared with an average rate of 1 per cent for coal and 1 per cent for petroleum products.
Mr Ferguson said “Australia needs to prepare for the possibility of a sustained expansion of the resources sector. This is why the Government is making targeted investments in export infrastructure bottlenecks, skills and labour needs, and the opening up of future resource provinces to help meet the growing demand from our trading partners.”
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| Url: | http://gastoday.com.au/news/federal_gov_reports_on_australias_energy_production/040259/ |