Australia has announced plans to deregulate its energy industry, boost domestic gas supply and cut renewable energy subsidies as it prepares to increase exports of liquefied natural gas.
The new policies are part of the conservative coalition government’s scaling back, aiming to keep the country’s energy industry competitive.
In 2013, Australia’s energy resource exports were worth AUS $69 billion. Coal made up more than half of these exports, making Australia the world’s second largest coal exporter.
Australia is expected to become the first country to develop coal-seam gas for LNG in late 2014, and the government has emphasised the importance of streamlining the workforce in order to facilitate this shift in focus.