- In 2012, oil and gas in Australia accounted for 59% of total primary energy supply.
- Domestic natural gas production more than satisfies the country’s demand and will do for the foreseeable future.
- Australia does not impose minimum stock holding requirements on oil companies and there are no public stocks.
- Emergency policy relies on the domestic market to respond to supply short falls in the first instance.
- In a declared state of emergency, the government does have legislative power to control the storage, transfer, sale and production of liquid fuels.
- Most crude oils are of a high quality, light and sweet grade.
- Australia produces NGLs in the form of naturally occurring LPG.
- Crude oil and condensate production peaked in 2000 at 687 000 bpd.
- To 2050, NGL and crude oil production is projected to decrease at an average rate of 3.8% /y.
- To 2050, consumption of petroleum products is expected to grow at an average rate of 1.1% /y.
- In 2012, oil demand averaged 1.126 million bpd.
- In 2010, diesel surpassed gasoline as the largest single component of the country’s total oil demand.
- In 2012, net oil imports averaged 646 000 bpd.
- There are six refineries in Australia with a total crude distillation capacity of 680 000 bpd.
- All oil storage capacity is held commercially within the supply chain.
- The Minister for Industry is responsible for coordinating emergency response in the event of an oil supply disruption.
- Australia held approximately 39 million bbls of oil stock at the end of April 2013.
- The potential for reducing oil use through fuel switching in heat and power plants is limited.
- In 2012, total natural gas production was 53.9 billion m3.
- By 2018, total production is expected to exceed 140 billion m3.
- In 2012, domestic gas consumption totalled approximately 48.7 billion m3.
- By 2018, natural gas demand is expected to hit 55 billion m3.
- Australia is a net exporter of natural gas and all exports are sent as LNG.
- There are 150 gas companies active in Australia.
- There are three LNG terminals currently in operation in the country.
- Australia has four underground natural gas storage facilities operating and one LNG peak shaving plant.
- There are no strategic stocks of natural gas in Australia.
- There are no policies to promote fuel switching away from natural gas in an emergency.
Adapted by Claira Lloyd
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/14072014/energy_security_supply_australia/