The Australian Government is undertaking a review of Australia’s liquid fuel security to assess the adequacy, reliability and affordability of Australia’s liquid fuel supplies.
This comprehensive assessment will look at how fuel is supplied and used in Australia, including the resilience of Australia’s liquid fuel supply chains to withstand disruptions, originating both internationally and in Australia.
Liquid fuel, such as petrol, diesel and jet fuel, accounts for 37% of Australia’s energy use, including 98% of transport needs. Over the past two years, the Australian Government has been focused on securing reliable and affordable electricity and gas. It is time now to consider Australia’s liquid fuel security.
The review will be completed by the end of 2018 and will contribute to a broader consideration of energy security across liquid fuel, electricity and gas supplies in the National Energy Security Assessment by mid-2019. The National Energy Security Assessment will also consider energy security issues related to liquid fuel such as the interaction between liquid fuel and electricity supplies.
The review of Australia’s liquid fuel security will consider:
- how fuel is supplied to Australia, improving our understanding of the supply chain to enable us to better manage risks to our liquid fuel security
- how fuel is used in Australia, including how our demand is likely to change into the future
- threats to the adequate, reliable and affordable supply of fuel to Australians
- our resilience to withstand disruptions to liquid fuel supply, both those occurring overseas and within Australia
- this will include potential defence demand and domestic security threats
- the impact of liquid fuel disruptions to fuel dependent sectors of the economy.
The assessment will also help inform Australia’s plan to return to compliance with the International Energy Agency’s emergency stockholding obligations by 2026.
The assessment will identify whether the government should take further steps to ensure Australia’s domestic fuel supply is reliable.
If further steps are required, options for these will be looked at after the assessment has been completed.
The department will be consulting with key stakeholders and interested parties on the assessment of Australia’s liquid fuel security, with full public consultation on the broader framework for the National Energy Security Assessment.
To register your interest in being consulted or to make an enquiry, please email energysecurity [at] environment.gov.au.