A PLENTIFUL and diverse array of options to power Australia has been laid out in the latest assessment of our country’s energy resources.
The 2018 Australian Energy Resources Assessment (AERA) confirms Australia has an abundance of coal, gas and renewable energy resources to meet domestic demand and export overseas.
Minister for Resources and Northern Australia Matt Canavan said “Australia really is the lucky country when it comes to energy resources” in a joint statement with Minister for the Environment and Energy Josh Frydenberg.
“We’re fortunate to possess a plentiful and diverse range of energy resources that can simultaneously fuel our everyday lives and grow exports, creating investment and job opportunities,” Minister Canavan said.
Coal, gas, oil and uranium make up more than 20 per cent of Australia’s total exports, and are projected to earn around $90 billion a year over the next five years alone.
“AERA confirms that we have substantial conventional gas resources, primarily offshore, and significant unconventional gas resources onshore,” Minister Canavan said.
Minister Canavan highlighted Australia remains under-explored Australia for oil and gas, and great potential for more discoveries.
Minister Frydenberg said the latest update to the national assessment of energy resources provides the data that industry and policy-makers need to compare energy commodities and understand their value on the domestic and world markets.
“Through the National Energy Guarantee the Turnbull Government is powering forward with a plan to deliver a more affordable and reliable energy system as we transition to a lower emissions future.”
The full assessment can be found here.