Australian government commissions a report info fuel supply security and resilience
- Published: Friday, 11 May 2018 09:31
The Australian Government has announced that it is to conduct a fuel security review to assess Australia's liquid fuel security and supply resilience. Liquid fuel, such as petrol, diesel and jet fuel, accounts for 37 percent of Australia's energy use, including 98 percent of transport needs.
The comprehensive assessment will look at how fuel is supplied and used in Australia and will look at how capable the supply network is to withstand disruptions both overseas and in Australia.
Australia's liquid fuel supply increasingly depends on overseas sources and relies on market forces to maintain reliability and affordability. The assessment will identify whether the Government should take further steps to ensure that Australia's domestic fuel supply is reliable.
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 of liquid fuels will be completed by the end of 2018 and contribute to a broader consideration of energy security across liquid fuel, electricity and gas supplies in the National Energy Security Assessment by mid-2019.