Australian Bureau of Statistics
1301.0 - Year Book Australia, 2006
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 20/01/2006
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17.2 GAS RESERVES AND PIPELINES - July 2002
Source: The Australian Gas Association.
Between 1993 and 2003 the EDR of black coal, brown coal, and crude oil have decreased, while the EDR of liquified petroleum gas (LPG), condensate, natural gas and uranium have increased in the same period (table 17.3). Changes in EDRs can be due to production activity and discoveries and reclassification of resources due to reassessments (such as with black and brown coal in 1999, when some resources previously considered economic were reclassified as subeconomic).
The net present value (NPV) of an energy resource is the expected value of the resource based on current market value, with some modifications based on depletion and economic forces. At June 2003, the NPV of Australian energy and mineral resources was $245 billion (b) (table 17.4). The two most significant energy resources were black coal and natural gas, accounting for 36% and 37% of the total NPV of energy resources respectively. The increase in the value of energy resources between 1993 and 2003 was primarily due to increases in the NPV of black coal and natural gas over this period - the NPV of black coal alone increased more than ten-fold.
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