Amidst the sharp drop in commodity prices, weakening demand from its key partners and rising capital imports, Australia's trade has recorded growing deficits in recent years, with a record low of -AU$3.9 billion in April 2015. The trade balance is expected to improve through to 2020, with the ramp up of LNG export projects in eastern Queensland, offshore Western Australia and Northern Territory. LNG projects will be the key driver of the domestic energy demand, in the form of energy losses in liquefaction plants. Excluding losses, demand growth will be quite limited across sectors. Domestic demand for coal and gas is under pressure due to higher competition from renewable generation particularly wind and solar.
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Due to their sensitivity to political events and the global economy, energy demand and trade remain extremely volatile. The rapidly changing cost environment for hydrocarbon production and renewable energy, combined with energy policy changes, means the fuel mix in energy markets can be unpredictable at best. Further complicating the outlook is the transition and pace of the energy-intensive developing world from industrial to services-based economic growth, supporting the growing need for power generation.
This Energy Markets Long Term Outlook report provides a multi-fuel supply and demand forecast supported by a breakdown of the key facts.
Companies involved in all sectors of the energy industry can use this long term outlook report to assess inter-fuel dynamics and market drivers for strategic planning and investment opportunities. Use it to understand supply and demand fundamentals across hydrocarbon and renewables.
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Commodity market report | Dec 2015
Australia energy markets outlook 2015 - overview
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