4604.0 - Energy Account, Australia, 2014-15 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 23/02/2017   
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ENERGY ASSET ACCOUNT

OVERVIEW

Environmental assets are best defined as those resources available for harvesting from the environment. These assets are commonly called Economic Demonstrated Resources (EDR) and are distinct from those that are too difficult to access with current technology and any hypothetical resources that might exist. In the Energy Account, Australia, physical energy assets are limited only to coal (i.e. black and brown), crude oil, condensate, industrial gases and uranium oxides.

  • Physical stocks of black and brown coal remained stable between 2013-14 and 2014-15, while stocks of uranium decreased by 1% (8,904 PJ).
  • Between 2013-14 and 2014-15, the value of black coal stocks decreased by 58% ($32 billion), while the value of uranium stocks increased by 24% ($92 million).

Table 1.2 shows detailed information about Australian energy stocks as at June 2015.

Table 1.2 Energy stocks, Australia, as at June 2015

Unit
Black Coal
Brown Coal
Crude Oil
LPG
Natural Gas
Uranium

Stock (closing)
PJ
1 676 700
433 160
4 984
4 078
114 886
640 136
Net present value
$m
23 010
205
40 163
11 701
281 074
468
Extraction rate (a)
% of EDR
0.9
0.1
9.3
2.1
1.8
0.5
Estimated resource life (remaining years of stocks)
Years
109.5
746.6
10.8
46.6
56.8
207.8

(a) The rate at which physical removal of energy resources occurs from the energy deposits.
Source: Australian System of National Accounts (cat. no. 5204.0).