Citing a recent report from the International Energy Agency (IEA), the Australian Petroleum Production & Exploration Association (APPEA), notes that Australian exports of liquefied natural gas (LNG) to Asia would need to triple to support the region’s energy transition.
Samantha McCulloch, chief executive of Australia’s main oil and gas industry lobby group, spoke on Thursday at a Department for Energy and Mining, South Australia roundtable about several industry topics, including the opportunities the Australian gas industry brings to the ongoing energy transition.
“Our experience today, and our observations here in Australia, are that we need more gas to support the transition to NetZero as we move away from coal, and renewables are increasingly taken up,” McCulloch said.
“In the IEA’s Net Zero scenario — which is often cited in claims around why we shouldn’t be investing in new fossil fuel supply — [there’s] almost a nine percent increase in gas globally this decade, and again that’s to support economies transitioning away from coal and support the ramp up of renewable energy.
“But this nine percent is not evenly distributed; in a more targeted analysis earlier this year for the Southeast Asian region, the IEA found that Australian LNG exports to the region would need to almost triple this decade to support its energy transition.
“How realistic that is — a tripling by 2030 — is up for debate, but it goes to show the importance of the role of our LNG exports in reducing emissions.”