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Oz to continue important role in energy market

Upstream, May 2013

The International Energy Agency’s chief economist, Fatih Birol, believes Australia will continue to play an important role in global energy markets but noted there were three issues the country needed to pay attention to.

Speaking to reporters at the Australian Petroleum Production & Exploration Association conference in Brisbane on Monday, Birol said competition from coal for use in power generation was one issued the industry to consider.

“I believe that there will be harsher and harsher competition between LNG and coal for the new electricity plants, especially if the cost of LNG is higher,” he said.

Birol also warned that Australia needed to take note of potential new LNG exporters such as North America.

The final issue Birol said Australia needed to pay attention to was the upcoming…

http://www.upstreamonline.com/epaper/article1327814.ece

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