A new policy published by the Australian government promises to prolong the production and use of natural gas throughout the transition to net zero emissions by 2050.
The Australian government has released the Future Gas Strategy, a long-term framework that maps the country’s plan for gas production and consumption, and how this fossil fuel will support the country’s transition to net zero by 2050.
Australia is one of the world’s largest exporters of liquefied natural gas. While it currently accounts for 27% of the country’s existing energy needs, the bulk of it is exported to countries such as China, Japan and South Korea.
The strategy outlines Australia’s commitment to supporting global emissions reductions to reach net zero emissions by 2050. But to do this gas production and exploration must be optimised through the transition.
As such natural gas will be a ‘bridging fuel’. As outlined in the strategy, Australia will ‘be a reliable trading partner for energy, including liquefied natural...