Australia Natural Gas Energy Outlook: Demand, Market Trends, Impact of low oil and gas prices on future upstream; exploration, extraction and development and the economic viability for offshore wind energy in Western Australia.
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The objective of the paper is to analyze Australia’s energy policy regarding natural gas; the domestic production, consumption, and implications in promoting energy security as its share in market value increases. This will include the Liquefied Natural Gas(LNG) developments, its export production capacity, including the future outlook demand internationally.
The aim is to shed light on the unfavorable downturn in global commodity prices, and how the constant volatility has many investors skeptic about the future of oil and gas. For a large supplier like Australia, natural gas remains at the forefront of the countries energy mix, maintaining a large share within the energy supply, and as a key trading partner in LNG throughout Asia Pacific and the world.
In order to avoid oil shocks the country the government should readily adopt and implement a more comprehensive renewable energy portfolio to, in essence, change the energy supply makeup by slowly weaning off natural gas and moving to cleaner, cheaper alternatives including wind, solar and tidal. The shift to renewables is the new frontier buttressed by the naturally large abundant stocks of untapped gas reserves.
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