AUSTRALIA: THE 3-RD LARGEST LNG EXPORTER
Country Analysis Brief Overview
- Australia, rich in hydrocarbons and uranium, was the world's second-largest coal exporter in 2012 and the third-largest liquefied natural gas (LNG) exporter in 2013.
- Australia's dependence on oil imports has increased to fill the growing gap between domestic consumption and production.
- Australia's overall oil production has declined since 2000, although additions through condensate production and smaller crude oil developments are expected to offset declines in mature fields over the next few years.
- Australian natural gas production has increased sharply over the past decade as a result of new projects.
- Australia has become a leading LNG exporter in the Asia-Pacific region in the past decade. Greater expected natural gas production and new LNG capacity in the next few years is likely to boost natural gas exports even more.
- Australia is the world's second-largest exporter on a weight-basis, and coal ranks as the second-largest export commodity for Australia in terms of revenues. It holds the fourth-largest reserves.
- Although about 87% of Australia's electric generation in 2013 was from fossil fuels, chiefly coal, there is a push for cleaner and more renewable power.
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U.S. DT - The sum total in September of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a net TIC outflow of $29.1 billion. Of this, net foreign private inflows were $23.5 billion, and net foreign official outflows were $52.7 billion.
U.S. FRB - Industrial production edged up 0.1 percent in October, as a gain for manufacturing outweighed decreases elsewhere. As a result of upward revisions primarily in mining, the overall index is now reported to have advanced at an annual rate of 4.7 percent in the third quarter, appreciably above the gain of 3.3 percent reported initially.
WNN - "nuclear energy is a "mature, low greenhouse gas emission source of baseload generation that could make an increasing contribution to global development based on low-carbon energy supply".
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