Hi Hardcash
Only 24% of Australian electricity is generated by Natural gas. I have read its as low as 19% however I will utilise the higher number for this exercise. I personally don't see renewable electricity generation as the end of gas.
Ironically its Western Australia who consumes the most gas of any state, which I was surprised to read, Mining and manufacturing are huge users. The issue with manufacturing and mining is there is no competitive alternative to gas, other than coal and diesel and no one is going in that direction. In fact as demonstrated be Min and Hancock they are transitioning towards gas. Electricity does not cut it as a competitive heat generation source for manufacturing and mining product conversion. That is the conundrum no one talks about and we have no global solution to it either at this point.
Interestingly, of all gas extracted annually in Australia 71% is exported. (what if we get that domgas approval)
Global gas demand is increasing by 1.6% down from 2.4% annually yet still rising and is forecast to increase for years to come. Even flat line is ok.. I agree there is a renewable transition however it will be decades and an alternative cheap fuel source that replaces gas IMO. The most logical is hydrogen, yet currently hydrogen is not commercially viable. I have been investing in gas for these very reasons and will continue to do so until its clear the alternative fuel source becomes available. To your point we should keep an eye on it however its along way off IMO. GLTAH
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