Securing growth markets for natural gas

The Industry Development Strategy 2000-2005 (IDS) identifies the major growth markets for natural gas, as the industry readies itself for the challenges of the new millenium. An integral part of this process is to examine the key barriers to market expansion, and to devise strategies that both The Australian Gas Association (AGA) and the wider industry can pursue to underpin improvement in overall gas consumption. This is the task of the IDS which examines the opportunities confronting the industry over the next five year period. The significant growth prospects of the gas industry both in the short term (2000-2005) and long term (2005-2015) are indicated in two comprehensive and independent studies. The first, Australian Energy Market Developments and Projections to 2014-15, was released earlier this year by the Australian Bureau of Agricultural and Resource Economics (the ABARE Energy Report). The second, Natural Gas Consumption in Australia to 2015-Prospects by State, Industry and Sector, was commissioned by the AGA, and was completed by the National Institute of Economic and Industry Research in September 1999 (NIEIR Report). Both reports indicate that in terms of consumption levels, in the period up to 2015 the gas industry is forecast to more than double its current size. Natural gas is also projected to increase its primary energy share ranking from third to second place