Australia has more than enough gas for both domestic and export markets.
The country’s supply is growing as new technology allows companies to produce from large reserves that were too difficult to access until recently.
Australia has more than 800 trillion cubic feet (TCF) of gas resources (including proven and contingent resources) – enough to power a city of 1 million people for 16,000 years. More discoveries are considered likely.
In 2013, the entire Australian economy consumed only 1.1 TCF, with a further 1.1TCF exported.
Greater development of the country’s extensive gas reserves would greatly enhance energy security as gas has the best combination of abundance, cleanness, affordability, reliability and flexibility of any fuel.
Unlike renewable energy, gas is reliable and flexible – unaffected by weather or the time of day, it can provide constant power. Unlike coal, gas produces relatively low emissions and can be easily turned on and off to meet spikes in demand or to fill gaps in other forms of power production (such as renewables).