Northern Australia's significant resource base and highly efficient production systems underpin its economic fundamentals.
There is a unique mix of world-class energy resources. The extensive petroleum resources,108 (conventional and unconventional natural gas and liquids) and renewable resources are vital to Australia's energy security.
The region's vast land area and high-quality solar resources makes it a preferred location for large-scale renewable energy projects and, in the future, green hydrogen.109
These will be key as Australia and its overseas export partners transition to lower-cost, lower-emission futures.
Northern Australia is also poised to become a major supplier of critical minerals such as lithium and silicon, which are inputs into much-needed new energy products, such as electric vehicles, solar panels and wind turbines.110 These minerals will be vital to global energy transition, digitalisation and leading-edge technologies.111
The Energy chapter describes how that sector is transforming and the associated reforms.