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Country profile · World's largest LNG exporter · Coal export king · 82% renewables 2030

Australia Energy

Australia is simultaneously the world's largest LNG exporter, the world's largest coal exporter, and one of the fastest-moving major economies on renewable energy. Its 82% renewables by 2030 target requires the fastest large-scale grid transformation in history — while its fossil fuel export revenues fund the transition.

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Overview

Australia — key energy statistics

~80 MT/yr
LNG exports — world's largest 2023
~200 MT/yr
Thermal coal exports — world's largest
82%
Renewable electricity target by 2030
7 LNG
Major LNG export terminals
2,880 MW
Eraring — Australia's largest coal plant (retiring ~2025)
Snowy 2.0
2,000 MW pumped storage — world's largest new project
LNG and coal exports · GPS-located

Australia's fossil fuel export industry — the world's LNG and coal capital

Australia is the world's largest exporter of both LNG and thermal coal — yet also has among the world's fastest renewable energy growth. The fossil fuels are exported primarily to Japan, China, South Korea, and India. The export revenues (~A$130 billion/yr peak in 2022–23) partly fund the domestic energy transition.

LNG ProjectGPSMTPAOperatorNotes
North West Shelf LNG20.38°S 116.75°E16.3Woodside (operator, 33%), Shell, BP, Chevron, BHP, MIMI (MITSUI+Mitsubishi)Karratha, WA. Australia's original LNG project, operational since 1989. Oldest and still one of the largest. Feeds Japan, China, Korea. Woodside merged with BHP Petroleum in 2022 to become a global LNG major.
Gorgon LNG20.40°S 115.76°E15.6Chevron (47.3%), ExxonMobil (25%), Shell (25%), othersBarrow Island, WA. A$54 billion — one of the most expensive LNG projects ever built. Commissioned 2016. CO₂ injection project (to re-inject reservoir CO₂) has not performed as promised — ongoing controversy. Largest private investment in Australian history.
Prelude FLNG13.98°S 123.35°E3.6Shell (67.5%), INPEX (17.5%), KOGAS (10%), OPIC (5%)Browse Basin, 475 km offshore WA. World's largest floating structure (488m). Produces LNG, LPG, and condensate directly offshore. Full deep-dive: Offshore Platforms page.
Wheatstone LNG21.53°S 114.97°E8.9Chevron (64.1%), KUFPEC (13.4%), Woodside (13%), othersOnslow, WA. Two LNG trains + domestic gas. A$34 billion. Feeds Japan (Tokyo Gas) under long-term contract.
Darwin LNG12.50°S 130.80°E3.7Santos (43.4%), ConocoPhillips (26.6%), INPEX+Tokyo Gas (others)Darwin, NT. Feeds Japan. Connected to Bayu-Undan offshore field (now depleted) — transitioning to Barossa offshore field (10.40°S 129.58°E, 360 km offshore, controversial due to carbon intensity of the reservoir gas).
Ichthys LNG13.37°S 130.12°E8.9INPEX (62.3%), TotalEnergies (30%), othersDarwin, NT. INPEX (Japan) project — unusual for a foreign NOC to operate a major Australian LNG project. A$34 billion. Feeds Japan almost exclusively.
The renewable transformation

82% renewables by 2030 — Australia's most ambitious energy target

The grid challenge:
Australia's National Electricity Market (NEM) serves the eastern seaboard — approximately 10 million customers across Queensland, New South Wales, Victoria, South Australia, and Tasmania. It is one of the world's longest AC power systems (~5,000 km) with relatively weak interconnections between states. The NEM is retiring approximately 12 GW of coal by 2030 — Eraring (33.04°S 151.55°E, 2,880 MW, Australia's largest coal station, repeatedly extended but retiring by 2025–2026), Bayswater (32.28°S 150.97°E, 2,640 MW), Loy Yang A and B in Victoria (38.22°S 146.38°E, total ~3,200 MW, lignite). Replacing 12 GW of firm coal with variable renewables requires: new transmission (CopperString, HumeLink, VNI West), pumped storage (Snowy 2.0, Borumba, Pioneer-Burdekin), and a significant battery buildout. AEMO's Integrated System Plan 2024 shows the path — but describes it as requiring an "unprecedented pace of investment." Source: AEMO ISP 2024.
Snowy 2.0 — the big bet:
Snowy 2.0 (36.00°S 148.00°E, Snowy Mountains, NSW) is Australia's largest energy infrastructure project — a 2,000 MW / 350 GWh pumped storage expansion connecting two existing Snowy Hydro reservoirs (Tantangara and Talbingo) via 27 km of tunnels and an underground powerhouse. It would provide approximately 350 GWh of storage — equivalent to roughly 36 hours of average NEM demand. The project has faced significant cost overruns (original estimate A$2 billion → current estimate A$12+ billion) and delays (original 2025 completion → now 2028 at earliest). The delay is a serious problem for Australia's 82% renewables transition — Snowy 2.0 was relied upon as the primary long-duration storage solution. Source: Snowy Hydro Annual Report 2024 · AEMO ISP 2024.
Questions

Questions about Australia's energy

Australia's position — rapidly expanding domestic renewables while maintaining and growing LNG exports — is described by critics as contradictory and by supporters as pragmatic. The Australian government's position is that the two goals are not inconsistent: (1) Exported Australian LNG displaces coal in Asia — particularly in Japan and South Korea, where it is used for power generation. To the extent LNG replaces Asian coal (820 g CO₂/kWh) with gas (490 g CO₂/kWh), Australian LNG exports reduce global emissions net. Japan and Korea have both stated they intend to use LNG as a bridge fuel during their own transition to renewables. (2) Australia's domestic transition is driven by economics — solar and wind are now the cheapest new electricity sources, making the transition primarily market-driven rather than subsidy-dependent. (3) LNG export revenues (approximately A$90–130 billion/yr peak) fund government spending that includes clean energy programmes. Critics argue: (1) LNG infrastructure locks in decades of fossil fuel use; (2) Australia should be using its exceptional renewable resources to export green hydrogen or electrons rather than gas; (3) The scope 3 emissions (from combustion of exported gas) are not counted in Australia's national emissions inventory but contribute substantially to global warming. The International Energy Agency's NZE 2050 scenario requires no new LNG terminals or long-term contracts approved after 2021 — a position Australia's government has noted but not adopted as policy. Source: IEA NZE 2050 · Australian Department of Climate Change and Energy · IEEFA Australia LNG analysis.
Provenance

Attribution and citation

Sources
IEA Australia Energy Policy 2023 · AEMO Integrated System Plan 2024 · Australian Energy Regulator 2024 · Woodside Annual Report 2023 · Chevron Australia · Santos Annual Report 2023
Cite as
"Australia Energy Profile", The Energy Codex, https://thecodex.expert/energy/countries/australia/, last updated .