Central & SE Asia / Australasia

Australia flag
Summary | Profile

Country profile: Australia

Location: Oceania, continent between the Indian Ocean and the South Pacific Ocean
Climate: generally arid to semiarid; temperate in south and east; tropical in north
Terrain: mostly low plateau with deserts; fertile plain in southeast
Size: 7686850 sq. km total (Land area: 7617930 sq. km  Water area: 68920 sq.km)
Population: 20,600,856 (July 2008 est.)
Languages: English 79.1%, Chinese 2.1%, Italian 1.9%, other 11.1%, unspecified 5.8% (2001 Census)
Government: federal parliamentary democracy
Capital city: Canberra
Legal system: based on English common law; accepts compulsory ICJ jurisdiction, with reservations
Currency: Australian dollar (AUD)
Licensing:

Country profile

Australia has exhibited robust economic growth over the last decade, in spite of a strong Australian dollar that has depressed exports. However, in 2006, severe drought, increasing inflation, and high oil prices all contributed to a deceleration of economic growth. The country achieved a 2.5 percent increase in real gross domestic product (GDP) in 2006, down from a 2.7 percent GDP growth rate in 2005. Australia is rich in natural resources with significant petroleum, natural gas and coal reserves. Australia’s energy consumption is dominated by coal, which fuels most of the country’s power generation. Petroleum accounts for a large share of energy consumption, but due to declining output, Australia is facing a growing dependence on petroleum imports.

Over the past two decades, Australia has steadily consumed increasing amounts of natural gas, which is likely to continue over the medium term. Australia is one of the few countries belonging to the Organization for Economic Cooperation and Development (OECD) that is a significant net energy exporter. Australia is the world’s largest coal exporter and is the fifth largest exporter of liquefied natural gas (LNG). Australia’s prospects for expanding energy exports in the future are promising as Asian demand for both coal and LNG rises. However, Australia can expect increasing export competition from China (coal) and Indonesia (coal and LNG).

Energy production and consumption


Oil Gas
Production: 572,400 bbl/day (2005 est.) 38 billion cu m (2005 est.)
Consumption: 903,200 bbl/day (2005 est.) 25 billion cu m (2005 est.)
Exports: 333,200 bbl/day (2004) 12 billion cu m (2005 est.)
Imports: 611,400 bbl/day (2004)  
Reserves: 1 bbl (2006 est.) 750 billion cu m (1 January 2006 est.)
Major fields:



Australia - recent news

23 May 24
Australia: Mainstream Renewable Power and Someva Renewables awarded a 500 MW investigative permit for onshore wind farm in New South Wales
Mainstream Renewable Power, the global pure-play renewable energy company, and Someva Renewables, an Australia-based renewable energy developer, have been awarded a permit by the Forestry Corporation of New South Wales, Australia to jointly investigate an onshore wind farm at Sunny Corner with a potential capacity of approximately 500 MW.
21 May 24
Expro celebrates milestone achievement with completion of 100th global SeaCure job
Expro, a leading provider of energy services, has successfully completed its 100th job globally of its field-proven cementing technology, SeaCure®, marking a significant milestone. The 100th SeaCure® job was completed as part of a project in Australia consisting of a five-well subsea batch campaign, highlighting Expro's expertise in providing comprehensive solutions for complex offshore operations.
20 May 24
Australia: Whitebark Energy instigates near term Hydrogen Commercialisation Pathway study
Whitebark Energy has commenced targeted commercialisation studies for the Company’s current portfolio in Australia. Hydrogen, produced through electrolysis powered by renewable sources, stands out as a versatile and sustainable fuel with the potential to revolutionise various sectors, including transportation, industry, and energy storage.
13 May 24
Australia: TechnipFMC awarded significant iEPCI contract by Woodside Energy for Xena Phase 3 development
TechnipFMC has been awarded a significant integrated Engineering, Procurement, Construction, and Installation (iEPCI™) contract by Woodside Energy in Australia. TechnipFMC will design, manufacture, and install the subsea production system, flexible pipe, and umbilicals for the Xena Infill well (XNA03) to support ongoing production from the Pluto LNG Project.
13 May 24
Australia/Japan: INPEX and JERA sign agreement to jointly study feasibility of Japan-Australia CCS value chain
INPEX has signed an agreement with JERA to conduct a joint study to assess the feasibility of establishing a Carbon Capture and Storage (CCS) value chain involving the capture of CO2 in Japan and its transportation to Australia for storage.

Australia - more news

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