The Place of Oil and Gas in Future Energy Patterns in Australia

Average annual growth in consumption of primary energy in Australia over the past 10 years has been 5·5 per cent compared to a world average of 4·1 per cent.Over the next 10 years growth rate is expected to increase to 6 per cent per annum due largely to the rapid development in the mineral processing industry.By the end of the 19705 natural gas is expected to supply more than 9 per cent of Australia's primary energy market. Coal will supply 40 per cent and petroleum products 47 per cent. Nuclear energy will make its appearance but will make only a small contribution in the period.Australia has adequate reserves of natural gas and coal to supply its needs in the 1970s and beyond. However the newly developed reserves of crude oil, while supplying 60-70 per cent of requirements in the initialyears, will need regular and sizable additions if they are to keep pace with the expanding consumption. For Australia to become self sufficient in the period 1970-1990 it is estimated that new discoveries will need to approximate ten times the volume of recoverable reserves found in Australia to date.