Australia energy report

• Australia raised its 2030 carbon emission reduction target to 43% by 2030 compared to 2005 levels.
• The electricity sector has many local and private companies, whereas the oil and gas sectors are dominated by big international companies.
• Australia is a large exporter of coal, LNG and uranium, but a net importer of oil.
• Coal dominates the power mix (53% in 2021), albeit with a decreasing share, while the share of wind and solar is rising (+18 points since 2010), reaching 19% in 2021.
• Motor fuel prices are around 25% lower than the OECD average in 2021.
• The share of coal in the energy mix has decreased by 11 points since 2010, while the share of natural gas increased by 6 points. Carbon free sources only account for 10% of the energy mix.
• Almost 260 GW of renewables projects are under development (90% wind and solar).
• Two LNG liquefaction plants and tow regasification terminals are under construction.
• Coal mining projects are facing opposition and cancellations.

• Institutions & Energy Policy

  Australia is a constitutional monarchy with a federal division of powers. The country is made up of six states and two territories: New South Wales (NSW), Queensland (QLD), Victoria (VIC), South Australia (SA), Tasmania (TAS) and Western Australia (WA), and the Australian Capital Territory (ACT) and the Northern Territory (NT). The first three account for around ¾ of the GDP.

• Energy Supply

  Oil:

  Australia's production of liquid hydrocarbons (crude oil, condensates, and NGLs) increased by 40% between 2018 and 2020, reaching 18.5 Mt, but dropped by 10% to 16.6 Mt in 2021. The production is mostly due to its two largest producing basins, the Browse and Carnarvon basins in north-western Australia, in part due to the completion of the Greater Enfield Project in 2019.

• Energy Prices

  Oil:

  Motor fuel prices follow international oil prices: decreasing between 2019 and 2020 and increasing by 35/27% in 2021 to US$1.13/l and US$1.08/l for gasoline and diesel, respectively. These prices are around 25% lower than the OECD average.

  Graph: GASOLINE & DIESEL PRICES (US$/l)

• Energy Consumption

  Per capita energy consumption is around 25% higher than the average of OECD countries, amounting to 5.0 toe in 2021, while per capita electricity consumption was 9.3 MWh.

  Total energy consumption remained relatively stable between 2010 and 2021 (between 126 and 128 Mtoe according to the year considered).

• Issues & Prospects

  Australia's thermal coal exports are forecast to increase by 2.5%/year between 2020-21 and 2023-24 to 207 Mt, according to the last Resources and energy quarterly (December 2022): by the Ministry of Industry. In parallel, the thermal coal output should rise by 4.3%/year to 257 Mt in 2023-24.

• GENERAL OVERVIEW
• INSTITUTIONS AND ENERGY POLICY
• ENERGY SUPPLY
• ENERGY PRICES
• ENERGY CONSUMPTION
• ISSUES AND PROSPECTS
• DATA TABLES
• ABBREVIATIONS
• GLOSSARY

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Below is a list of the Australia energy market report graphs:

• GRAPH 1: CO₂-energy emissions (MtCO₂)
• GRAPH 2: Installed electric capacity by source (2021, %)
• GRAPH 3: Gross power production by source (TWh)
• GRAPH 4: Power generation by source (2021, %)
• GRAPH 5: Gasoline & diesel prices (US$/l)
• GRAPH 6: Electricity prices for industry and households (US$c/kWh)
• GRAPH 7: Gas prices for industry and households (US$c/kWh GCV)
• GRAPH 8: Consumption trends by energy source (Mtoe)
• GRAPH 9: Total consumption market share by energy (2021, %)
• GRAPH 10: Final consumption market share by sector (2021, %)
• GRAPH 11: Oil consumption (Mt)
• GRAPH 12: Oil consumption breakdown by sector (2021, %)
• GRAPH 13: Electricity consumption (TWh)
• GRAPH 14: Electricity consumption breakdown by sector (2021, %)
• GRAPH 15: Natural gas consumption (bcm)
• GRAPH 16: Gas consumption breakdown by sector (2021, %)
• GRAPH 17: Coal consumption (Mt)
• GRAPH 18: Coal consumption breakdown by sector (2021, %)

In the Australia energy market report you will find the following tables:

• Economic Indicators: Annual historical data including population, GDP growth, imports and exports, inflation rate, energy security and efficiency indicators, CO₂ emissions.
• Supply Indicators: Historical data including oil and gas reserves, electric and refining capacity, energy production, power production and external trade. All are detailed by energy source.
• Demand Indicators: Historical data including consumption per inhabitant, consumption trends, total consumption by energy source, final consumption by energy source and sector, and electricity consumption by sector.
• Energy Balances: Single table displaying the overall energy industry balance per annum, also graphically displayed by energy sub-segment.
• Infrastructure Projects: Covers power plant projects by energy, technology, status and operator, gas plant projects by status and operator and LNG contracts.

The Australia country dashboards are complemented with country forecasts from EnerFuture (excel file) with scenario comparison.

Data included in the excelsheet:

• Demand: Primary energy consumption, final energy consumption, by fuel, by sector.
• Power: Electricity generation & capacities, by technology.
• CO₂: Total CO₂ emissions.
• Macro-economy: Main macro-economic assumptions.
• Key indicators: Energy intensity, share of renewables, CO₂ emissions per capita and per unit of GDP.