The Australian Government has released a ten year roadmap for the Australian energy resources sector.
The Sector Competitiveness Plan was developed by National Energy Resources Australia (NERA), one of six growth centres established under the $250 million Industry Growth Centres initiative.
Australia's energy resources industries are major contributors to the economy: the combined gross value add provided by the coal, oil and gas, and uranium industries was $42.2 billion in 2015-16. And coal and gas remained the largest commodity exports after iron ore.
However, the industries are operating in an increasingly complex environment, which includes the domestic regulatory settings and the rapidly changing expectations on energy in our society.
To unlock the sector's potential, the plan recommends that its stakeholders work together, and embrace incremental and transformational changes.For example, Australia's energy industries could assist developing nations in meeting their emissions reductions commitments. This could include providing energy diversification through the export of clean technologies such as hybrid power generation, battery storage and carbon capture and storage.
It further recommends that Australia's energy resources industries modernise their business models, enhance operational models and technology capabilities, and improve capacity, skills and culture.
NERA urges all parties to consider the suggested changes, saying that the sustainability of the industry depends on the actions taken in the next few years.