Gas and oil prospects
In the coming decades natural gas may take a lead role in providing energy to the world while mitigating climate impacts. Our optimistic view is based on the advantages of gas relative to other fossil fuels, including its abundance, wide geographical distribution and environmental impact – natural gas emits fewer emissions than coal and oil when burned. In addition, there have been substantial cost reductions in liquefied natural gas (LNG) production, transport and receiving technologies.
This report develops a reference point for stakeholders interested in an outlook for development of gas resources in Australia, with a focus on prospects for the proliferation of LNG trade.
On balance, we find favourable prospects for Australia in the long-term energy landscape – given the country’s prominence as a gas and LNG supplier and our view of sufficient global gas demand to absorb future supply from diverse sources – but we emphasise that both the gas industry and governments should be ready to innovate and adapt to rapidly-changing market conditions.
Related Projects
The Insertion of Australia and WA in International Gas and Oil Markets
This project examines economic questions that are of interest to WA. It analyses trends in production and consumption of natural gas and oil in the Asia Pacific region and worldwide. It also investigates how technological advancements for development of unconventional... Read article
Further Information
Energy Policy in WA: An Inclusive Future?
Two BCEC Feature reports examining energy policy in Western Australia were launched at a special BCEC workshop on Thursday 27 September 2018. The workshop explored ways WA can strike the right balance between affordability, reliability and environmental impact in its energy market, while ensuring responsiveness... Read article
Energy Policy in WA: An Inclusive Future?
The Bankwest Curtin Economics Centre (BCEC) invites you to a special BCEC workshop to discuss an inclusive future for energy policy in Western Australia. The workshop will explore ways in which WA can strike the right balance between affordability, reliability... Read article
The Bankwest Curtin Economics Centre team acknowledges the Wadjuk Nyungar people as the traditional owners of the land on which the Centre is situated.