Analysis:
In 2023, Australia's natural gas liquids (NGL) production was at 101.36 thousand barrels per day. Over the last decade, production has seen fluctuations; a significant decline from 2014-2017, a surge in 2019, and a moderate increase thereafter. The year-on-year change was -0.085% in 2023, while the 5-year CAGR was 11.14%. The future forecast from 2024 indicates a steady production around 101.29 thousand barrels per day, with a minor negative growth rate of -0.21% over the next five years and a forecasted 5-year CAGR of -0.04%.
Future trends to watch:
Future trends to monitor include potential impacts from global economic shifts, advancements in extraction technology, changes in regulatory environments, and shifts in demand for cleaner energy sources affecting Australia's NGL production stability and growth.
