The report attributed the growth primarily to the increased exports of LNG from the North West Shelf in Western Australia but also cited the rapid expansion of Australia’s gas reserves and resources which now total over 200,000 PJ.
EnergyQuest Chief Executive Officer Graeme Bethune said that Australia has the potential to be one of the world’s major gas producers.
“We expect that Australia, in the very near future, will be among the top ten countries globally measured by the size of its gas reserves,”? said Mr Bethune.
Mr Bethune said that the size of Australia’s gas reserves assured strong growth in the country’s LNG exports for the future.
“Since the start of 2009 there have been new agreements signed to buy nearly 12MMt/a of Australian LNG,”? Mr Bethune said.
He added “This country currently uses relatively less gas than other countries in meeting its own energy needs.”?
The latest figures on world energy use from BP show that natural gas meets around 18 per cent of Australia’s energy needs, which is well below the global average of 24 per cent.
Mr Bethune said that Australia’s expanding gas reserves gives it the potential to increase its own use of gas as a major energy source contributing to lower greenhouse emissions.