Global energy demand is projected to rise by 40 per cent through to 2035, driven by rapid urbanisation, population growth and rising incomes. The greatest demand most likely will come from the energy-hungry, high-growth economies in emerging Asia, and from China and India in particular. Although all sources of energy will be needed, oil and gas are likely to continue as major sources of supply for the foreseeable future.
Australia and New Zealand are ideally positioned to take advantage of the strong demand for energy from Asia. Oil currently accounts for 18 per cent of Australia’s exports and gas about 16 per cent. New Zealand does not currently export natural gas, but oil is its fourth-largest export earner.
Yet even as both Australia and New Zealand continue to expand their portfolio of oil and gas reserves, extensive areas of land — on and off shore — remain either unexplored or underexplored…
If you are registered and logged in to the site, click on the link below to read the rest of the Minter Ellison briefing. If not, please register or sign in with your details below.