Domestic demand for petroleum products grew at an average annual rate of around 1.5 per cent in the decade to 2011-12. It is expected to grow by around one per cent per year to 2049-50, largely driven by population and economic growth. However, energy intensity (measured by total domestic energy consumption per dollar of gross domestic product) is projected to decline by around 1.7 per cent per year over the same period, compared to a decline of 1.3 per cent from 1989-90 to 2009-10. This decline indicates an accelerating improvement in energy efficiency. The transport sector uses more than 60 per cent of all petroleum consumed in Australia, and is the primary driver of demand growth. In addition, the expansion of the mining sector has contributed significantly to increased demand for diesel.384
Imported refined petroleum products account for approximately 40 per cent of total domestic consumption, and this share is forecast to rise. Refined petroleum products are imported from more than 20 countries, but 80 per cent of all such products come from just three: Singapore (53 per cent), South Korea (18 per cent) and Japan (12 per cent).385
Demand for petroleum import facilities and the need for additional import infrastructure within Queensland is expected to grow over the next 15 years.
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384. Bureau of Resources and Energy Economics (2014a)
385. Australian Institute of Petroleum (2013a)