Introduction

Welcome to Geoscience Australia’s assessment of Australia’s Energy Commodity Resources (AECR 2022).

This annual stocktake of Australia’s gas, oil, coal and uranium resources provides a consistent and comparable data source on the identified quantities of Australia’s key energy commodities, enabling informed decision-making regarding Australia’s future energy priorities.

AECR 2022 demonstrates that Australia has retained a strong and diverse mix of energy resources across the country and solidifies Australia’s position as a key global energy exporter. At the end of 2020 Australia was:

• ranked as the world’s largest exporter of liquified natural gas (LNG) and seventh largest natural gas producer;
• the world’s largest exporter of metallurgical coal and second largest exporter of thermal coal, and the fifth and sixth largest producer of black and brown coal respectively; and
• the world’s second largest producer of uranium;

AECR 2022 also confirms Australia’s emerging opportunities in regards to hydrogen production and carbon capture and storage technology, which are vital in Australia’s transition to a low emissions economy.

During the 2021 calendar year there were a total of 83 hydrogen projects in Australia, an increase of 43 per cent, when compared to the previous year. Also the number of operational hydrogen projects, or projects under construction, increased significantly from three (3) in 2020 to 20 in 2021. Finally, while there were two carbon capture and storage projects operating in Australia during the assessment period, there were a further five (5) projects at various stages of assessment for commercial viability.