Australia

Australia’s energy reserves are dominated by natural gas and coal with significant reserves of petroleum. Australia is one of the largest exporter of coal and fifth largest exporter of liquefied natural gas (LNG) in the world.

Australia is self sufficient in energy for the past one decade, however, due to increase in consumption and decrease in output, the country turned out to a net importer. A majority of the country’s consumption is switching to natural gas from crude oil. 

Australia is a member of Organization for Economic Cooperation and Development (OECD), and was a significant net exporter of energy. Australian government has formed a regulatory body for energy in 2005, Australian Energy Regulator (AER), which is responsible for:

  • economic regulation in Australian energy markets;
  • promoting investments in the energy sector to ensure supply security;
  • Monitoring prices paid by end users.

Australia’s energy sources are divided primarily into two groups - renewable and non-renewable. Renewable energy sources include solar, wind, hydro-electricity, geothermal and biomass.  

 

 

(from GlobalData)