Analysis of the natural gas proved reserves in Australia shows a fluctuation from 2013 to 2023, with a significant drop from 2013 to 2014 followed by a period of stability and slight increases from 2021 onwards. As of 2023, the reserves stood at 2.48 trillion cubic meters. The year-on-year variation over the last two years recorded modest growth, with 1.2% in 2022 and 1.1% in 2023. The 5-year CAGR from 2018 to 2023 is 0.77%, indicating a growing trend over this period.
Future trends to watch for include:
- A continuous gradual increase in reserves, as forecasted, reaching 2.60 trillion cubic meters by 2028.
- Potential impacts of technological advancements in extraction and exploration techniques.
- The influence of global energy policies and market dynamics on Australia's natural gas sector.
- Environmental regulations and shifts toward renewable energy sources impacting reserve estimates and extraction activities.
