Summary

Australia’s natural gas market is poised for consistent growth, driven by rising domestic demand, robust LNG exports, and increasing investments in infrastructure and innovation. According to industry analysis, the market is projected to grow from US$ 25.7 Bn in 2025 to US$ 32.1 Bn by 2032, expanding at a CAGR of 3.24% during the forecast period.

Market Insights

Australia remains a vital player in the global natural gas Analysis, particularly due to its leading position in liquefied natural gas (LNG) exports. With LNG being a cleaner energy alternative to coal, demand from Asian countries such as China, Japan, and South Korea continues to support Australia’s export-driven gas economy. However, the nation also faces challenges domestically, including gas shortages and pressure to align with climate change goals.

Despite this, the government views natural gas as a transitional energy source, bridging the gap between fossil fuels and renewable energy adoption. The natural gas sector contributes significantly to the residential, industrial, and power generation sectors, underlining its importance in Australia’s overall energy mix.

Drivers

A key factor propelling market growth is the increasing use of natural gas as an alternative fuel. It offers a lower environmental footprint compared to coal and oil, making it more attractive for industrial operations, power generation, and transportation. Australia’s well-established gas distribution infrastructure further eases accessibility and distribution.

The transportation sector, in particular, is experiencing a rise in the use of compressed natural gas (CNG) and liquefied natural gas (LNG) vehicles. Fleet operators are turning to natural gas due to its cost-efficiency, cleaner emissions, and widespread availability.

Another vital growth driver is Australia’s significant role as a global LNG exporter. With vast reserves and an advanced export infrastructure, the country supplies major Asian economies with LNG, strengthening its trade balance and international standing.

Business Opportunity

The market presents notable opportunities, especially with the emergence of smaller, innovative players. These entrants, often focused on modular LNG plants and unconventional gas sources, bring agility and new technology to the sector. Their ability to tap into coal seam gas and shale reserves adds to Australia’s energy diversity and supply security.

Investment in technology and infrastructure—such as pipelines, storage, and liquefaction plants—is also expected to increase. Global energy companies like Chevron and POSCO INTERNATIONAL are actively expanding their LNG capacities in Australia, which will support market development and employment generation.

Moreover, integrating natural gas with renewable energy sources like biogas and hydrogen presents an avenue for a cleaner, hybrid gas network, aligning with global sustainability goals.

Region Analysis

Victoria emerges as a key regional contributor, accounting for a significant share of Australia’s natural gas production. The state's proximity to major demand centers like Melbourne and Sydney, combined with its access to the long-standing Bass Strait fields, strengthens its market position.

Victoria also benefits from a developed pipeline network and supportive government policies that attract technological investment. Other leading regions include Western Australia, Queensland, and South Australia, each contributing actively to national output and export capacities.

Key Players

The market features a moderately consolidated Analysis, with leading producers accounting for 65% to 70% of total market share. Prominent companies include:

• Chevron

• Shell

• ExxonMobil

• BP

• POSCO INTERNATIONAL

• China National Petroleum Corporation

• Total S.A.

• Gazprom

• ConocoPhillips

• Eni S.p.A.

These players are focused on scaling production, enhancing sustainability, and expanding international trade networks through strategic investments and technological advancements.

Recent Developments:

• In June 2024, POSCO INTERNATIONAL invested AUD 300 billion into its subsidiary Senex Energy, aiming to triple gas production by 2026.

• Chevron resumed full operations at its Wheatstone facility, strengthening LNG exports to Japan and South Korea.

• Shell’s acquisition of Nature Energy solidified its leadership in renewable natural gas.

Challenges

Australia’s path toward net-zero emissions poses a challenge for the natural gas sector. While gas is cleaner than coal, it still emits greenhouse gases, prompting concerns from environmental groups. Additionally, the imbalance between domestic demand and export commitments can lead to local shortages and price volatility.

Market Segmentation

By Type:

• Ethane

• Propane

• Methane

• Others

By Source:

• Conventional Gas

• Unconventional Gas

By Application:

• Automotive Fuel: LCVs, HCVs

• Power Generation

• Residential & Commercial: Heating, Cooking Gas, Appliances, Others

• Industrial Fuel: Mining & Metallurgy, Chemicals & Petrochemicals, Paper & Pulp, Food & Tobacco, Others

• Others

By Region:

• New South Wales

• Queensland

• South Australia

• Tasmania

• Victoria

• Western Australia

• Northern Territory

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Table of Contents

1. Executive Summary
1.1. Australia Natural Gas Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value, 2025
1.5. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.2. Restraints
2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter’s Five Forces Analysis
2.5. COVID-19 Impact Analysis
2.5.1. Supply
2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
2.7.1. World Economic Projections
2.8. PESTLE Analysis
3. Production Output and Trade Statistics, 2019-2024
3.1. Australia Natural Gas, Production Output, 2019-2024
4. Australia Natural Gas Market Outlook, 2019-2032
4.1. Australia Natural Gas Market Outlook, by Type, Volume (BCM) and Value (US$ Bn), 2019-2032
4.1.1. Key Highlights
4.1.1.1. Ethane
4.1.1.2. Propane
4.1.1.3. Methane
4.1.1.4. Miscellaneous
4.2. Australia Natural Gas Market Outlook, by Source, Volume (BCM) and Value (US$ Bn), 2019-2032
4.2.1. Key Highlights
4.2.1.1. Conventional Gas
4.2.1.2. Unconventional Gas
4.2.1.3. Source Methane
4.2.1.4. Source Miscellaneous
4.3. Australia Natural Gas Market Outlook, by Application, Volume (BCM) and Value (US$ Bn), 2019-2032
4.3.1. Key Highlights
4.3.1.1. Automotive Fuel
4.3.1.1.1. LCVs
4.3.1.1.2. HCVs
4.3.1.2. Power Generation
4.3.1.3. Residential and Commercial
4.3.1.3.1. Heating
4.3.1.3.2. Cooking Gas
4.3.1.3.3. Appliances
4.3.1.3.4. Miscellaneous
4.3.1.4. Industrial Fuel
4.3.1.4.1. Mining & Metallurgy
4.3.1.4.2. Chemicals & Petrochemicals
4.3.1.4.3. Paper & Pulp
4.3.1.4.4. Food & Tobacco
4.3.1.4.5. Miscellaneous
4.3.1.5. Miscellaneous
4.4. Australia Natural Gas Market Outlook, by Region, Volume (BCM) and Value (US$ Bn), 2019-2032
4.4.1. Key Highlights
4.4.1.1. New South Wales
4.4.1.2. Queensland
4.4.1.3. South Australia
4.4.1.4. Tasmania
4.4.1.5. Victoria
4.4.1.6. Western Australia
4.4.1.7. Northern Territory
5. New South Wales Natural Gas Market Outlook, 2019-2032
5.1. New South Wales Natural Gas Market Outlook, by Type, Volume (BCM) and Value (US$ Bn), 2019-2032
5.1.1. Key Highlights
5.1.1.1. Ethane
5.1.1.2. Propane
5.1.1.3. Methane
5.1.1.4. Miscellaneous
5.2. New South Wales Natural Gas Market Outlook, by Source, Volume (BCM) and Value (US$ Bn), 2019-2032
5.2.1. Key Highlights
5.2.1.1. Conventional Gas
5.2.1.2. Unconventional Gas
5.3. New South Wales Natural Gas Market Outlook, by Application, Volume (BCM) and Value (US$ Bn), 2019-2032
5.3.1. Key Highlights
5.3.1.1. Automotive Fuel
5.3.1.1.1. LCVs
5.3.1.1.2. HCVs
5.3.1.2. Power Generation
5.3.1.3. Residential and Commercial
5.3.1.3.1. Heating
5.3.1.3.2. Cooking Gas
5.3.1.3.3. Appliances
5.3.1.3.4. Miscellaneous
5.3.1.4. Industrial Fuel
5.3.1.4.1. Mining & Metallurgy
5.3.1.4.2. Chemicals & Petrochemicals
5.3.1.4.3. Paper & Pulp
5.3.1.4.4. Food & Tobacco
5.3.1.4.5. Miscellaneous
5.3.1.5. Miscellaneous
5.3.2. BPS Analysis/Market Attractiveness Analysis
6. Queensland Natural Gas Market Outlook, 2019-2032
6.1. Queensland Natural Gas Market Outlook, by Type, Volume (BCM) and Value (US$ Bn), 2019-2032
6.1.1. Key Highlights
6.1.1.1. Ethane
6.1.1.2. Propane
6.1.1.3. Methane
6.1.1.4. Miscellaneous
6.2. Queensland Natural Gas Market Outlook, by Source, Volume (BCM) and Value (US$ Bn), 2019-2032
6.2.1. Key Highlights
6.2.1.1. Conventional Gas
6.2.1.2. Unconventional Gas
6.3. Queensland Natural Gas Market Outlook, by Application, Volume (BCM) and Value (US$ Bn), 2019-2032
6.3.1. Key Highlights
6.3.1.1. Automotive Fuel
6.3.1.1.1. LCVs
6.3.1.1.2. HCVs
6.3.1.2. Power Generation
6.3.1.3. Residential and Commercial
6.3.1.3.1. Heating
6.3.1.3.2. Cooking Gas
6.3.1.3.3. Appliances
6.3.1.3.4. Others
6.3.1.4. Industrial Fuel
6.3.1.4.1. Mining & Metallurgy
6.3.1.4.2. Chemicals & Petrochemicals
6.3.1.4.3. Paper & Pulp
6.3.1.4.4. Food & Tobacco
6.3.1.4.5. Miscellaneous
6.3.1.5. Miscellaneous
6.3.2. BPS Analysis/Market Attractiveness Analysis
7. South Australia Natural Gas Market Outlook, 2019-2032
7.1. South Australia Natural Gas Market Outlook, by Type, Volume (BCM) and Value (US$ Bn), 2019-2032
7.1.1. Key Highlights
7.1.1.1. Ethane
7.1.1.2. Propane
7.1.1.3. Methane
7.1.1.4. Miscellaneous
7.2. South Australia Natural Gas Market Outlook, by Source, Volume (BCM) and Value (US$ Bn), 2019-2032
7.2.1. Key Highlights
7.2.1.1. Conventional Gas
7.2.1.2. Unconventional Gas
7.3. South Australia Natural Gas Market Outlook, by Application, Volume (BCM) and Value (US$ Bn), 2019-2032
7.3.1. Key Highlights
7.3.1.1. Automotive Fuel
7.3.1.1.1. LCVs
7.3.1.1.2. HCVs
7.3.1.2. Power Generation
7.3.1.3. Residential and Commercial
7.3.1.3.1. Heating
7.3.1.3.2. Cooking Gas
7.3.1.3.3. Appliances
7.3.1.3.4. Miscellaneous
7.3.1.4. Industrial Fuel
7.3.1.4.1. Mining & Metallurgy
7.3.1.4.2. Chemicals & Petrochemicals
7.3.1.4.3. Paper & Pulp
7.3.1.4.4. Food & Tobacco
7.3.1.4.5. Miscellaneous
7.3.1.5. Miscellaneous
7.3.2. BPS Analysis/Market Attractiveness Analysis
8. Tasmania Natural Gas Market Outlook, 2019-2032
8.1. Tasmania Natural Gas Market Outlook, by Type, Volume (BCM) and Value (US$ Bn), 2019-2032
8.1.1. Key Highlights
8.1.1.1. Ethane
8.1.1.2. Propane
8.1.1.3. Methane
8.1.1.4. Miscellaneous
8.2. Tasmania Natural Gas Market Outlook, by Source, Volume (BCM) and Value (US$ Bn), 2019-2032
8.2.1.1. Conventional Gas
8.2.1.2. Unconventional Gas
8.3. Tasmania Natural Gas Market Outlook, by Application, Volume (BCM) and Value (US$ Bn), 2019-2032
8.3.1. Key Highlights
8.3.1.1. Automotive Fuel
8.3.1.1.1. LCVs
8.3.1.1.2. HCVs
8.3.1.2. Power Generation
8.3.1.3. Residential and Commercial
8.3.1.3.1. Heating
8.3.1.3.2. Cooking Gas
8.3.1.3.3. Appliances
8.3.1.3.4. Miscellaneous
8.3.1.4. Industrial Fuel
8.3.1.4.1. Mining & Metallurgy
8.3.1.4.2. Chemicals & Petrochemicals
8.3.1.4.3. Paper & Pulp
8.3.1.4.4. Food & Tobacco
8.3.1.4.5. Miscellaneous
8.3.1.5. Miscellaneous
8.3.2. BPS Analysis/Market Attractiveness Analysis
9. Victoria Natural Gas Market Outlook, 2019-2032
9.1. Victoria Natural Gas Market Outlook, by Type, Volume (BCM) and Value (US$ Bn), 2019-2032
9.1.1. Key Highlights
9.1.1.1. Ethane
9.1.1.2. Propane
9.1.1.3. Methane
9.1.1.4. Miscellaneous
9.2. Victoria Natural Gas Market Outlook, by Source, Volume (BCM) and Value (US$ Bn), 2019-2032
9.2.1. Key Highlights
9.2.1.1. Conventional Gas
9.2.1.2. Unconventional Gas
9.3. Victoria Natural Gas Market Outlook, by Application, Volume (BCM) and Value (US$ Bn), 2019-2032
9.3.1. Key Highlights
9.3.1.1. Automotive Fuel
9.3.1.1.1. LCVs
9.3.1.1.2. HCVs
9.3.1.2. Power Generation
9.3.1.3. Residential and Commercial
9.3.1.3.1. Heating
9.3.1.3.2. Cooking Gas
9.3.1.3.3. Appliances
9.3.1.3.4. Miscellaneous
9.3.1.4. Industrial Fuel
9.3.1.4.1. Mining & Metallurgy
9.3.1.4.2. Chemicals & Petrochemicals
9.3.1.4.3. Paper & Pulp
9.3.1.4.4. Food & Tobacco
9.3.1.4.5. Miscellaneous
9.3.1.5. Miscellaneous
9.3.2. BPS Analysis/Market Attractiveness Analysis
10. Western Australia Natural Gas Market Outlook, 2019-2032
10.1. Western Australia Natural Gas Market Outlook, by Type, Volume (BCM) and Value (US$ Bn), 2019-2032
10.1.1. Key Highlights
10.1.1.1. Ethane
10.1.1.2. Propane
10.1.1.3. Methane
10.1.1.4. Miscellaneous
10.2. Western Australia Natural Gas Market Outlook, by Source, Volume (BCM) and Value (US$ Bn), 2019-2032
10.2.1. Key Highlights
10.2.1.1. Conventional Gas
10.2.1.2. Unconventional Gas
10.3. Western Australia Natural Gas Market Outlook, by Application, Volume (BCM) and Value (US$ Bn), 2019-2032
10.3.1. Key Highlights
10.3.1.1. Automotive Fuel
10.3.1.1.1. LCVs
10.3.1.1.2. HCVs
10.3.1.2. Power Generation
10.3.1.3. Residential and Commercial
10.3.1.3.1. Heating
10.3.1.3.2. Cooking Gas
10.3.1.3.3. Appliances
10.3.1.3.4. Miscellaneous
10.3.1.4. Industrial Fuel
10.3.1.4.1. Mining & Metallurgy
10.3.1.4.2. Chemicals & Petrochemicals
10.3.1.4.3. Paper & Pulp
10.3.1.4.4. Food & Tobacco
10.3.1.4.5. Miscellaneous
10.3.1.5. Miscellaneous
10.3.2. BPS Analysis/Market Attractiveness Analysis
11. Northern Territory Natural Gas Market Outlook, 2019-2032
11.1. Northern Territory Natural Gas Market Outlook, by Type, Volume (BCM) and Value (US$ Bn), 2019-2032
11.1.1. Key Highlights
11.1.1.1. Ethane
11.1.1.2. Propane
11.1.1.3. Methane
11.1.1.4. Miscellaneous
11.2. Northern Trerritory Natural Gas Market Outlook, by Source, Volume (BCM) and Value (US$ Bn), 2019-2032
11.2.1. Key Highlights
11.2.1.1. Conventional Gas
11.2.1.2. Unconventional Gas
11.3. Northern Territory Natural Gas Market Outlook, by Application, Volume (BCM) and Value (US$ Bn), 2019-2032
11.3.1. Key Highlights
11.3.1.1. Automotive Fuel
11.3.1.1.1. LCVs
11.3.1.1.2. HCVs
11.3.1.2. Power Generation
11.3.1.3. Residential and Commercial
11.3.1.3.1. Heating
11.3.1.3.2. Cooking Gas
11.3.1.3.3. Appliances
11.3.1.3.4. Miscellaneous
11.3.1.4. Industrial Fuel
11.3.1.4.1. Mining & Metallurgy
11.3.1.4.2. Chemicals & Petrochemicals
11.3.1.4.3. Paper & Pulp
11.3.1.4.4. Food & Tobacco
11.3.1.4.5. Miscellaneous
11.3.1.5. Miscellaneous
11.3.2. BPS Analysis/Market Attractiveness Analysis
12. Competitive Landscape
12.1. Application vs Source Heatmap
12.2. Manufacturer vs Source Heatmap
12.3. Company Market Share Analysis, 2025
12.4. Competitive Dashboard
12.5. Company Profiles
12.5.1. Gazprom
12.5.1.1. Company Overview
12.5.1.2. Product Portfolio
12.5.1.3. Financial Overview
12.5.1.4. Business Strategies and Development
12.5.2. Exxon Mobil Corporation
12.5.2.1. Company Overview
12.5.2.2. Product Portfolio
12.5.2.3. Financial Overview
12.5.2.4. Business Strategies and Development
12.5.3. China National Petroleum Corporation
12.5.3.1. Company Overview
12.5.3.2. Product Portfolio
12.5.3.3. Financial Overview
12.5.3.4. Business Strategies and Development
12.5.4. Royal Dutch Shell Plc
12.5.4.1. Company Overview
12.5.4.2. Product Portfolio
12.5.4.3. Financial Overview
12.5.4.4. Business Strategies and Development
12.5.5. BP Plc
12.5.5.1. Company Overview
12.5.5.2. Product Portfolio
12.5.5.3. Financial Overview
12.5.5.4. Business Strategies and Development
12.5.6. Chevron
12.5.6.1. Company Overview
12.5.6.2. Product Portfolio
12.5.6.3. Financial Overview
12.5.6.4. Business Strategies and Development
12.5.7. Total S.A.
12.5.7.1. Company Overview
12.5.7.2. Product Portfolio
12.5.7.3. Financial Overview
12.5.7.4. Business Strategies and Development
12.5.8. Statoil ASA
12.5.8.1. Company Overview
12.5.8.2. Product Portfolio
12.5.8.3. Financial Overview
12.5.8.4. Business Strategies and Development
12.5.9. Conoco Philips
12.5.9.1. Company Overview
12.5.9.2. Product Portfolio
12.5.9.3. Financial Overview
12.5.9.4. Business Strategies and Development
12.5.10. Eni.SpA
12.5.10.1. Company Overview
12.5.10.2. Product Portfolio
12.5.10.3. Financial Overview
12.5.10.4. Business Strategies and Development
12.5.11. EOG Resources
12.5.11.1. Company Overview
12.5.11.2. Product Portfolio
12.5.11.3. Financial Overview
12.5.11.4. Business Strategies and Development
12.5.12. Encana
12.5.12.1. Company Overview
12.5.12.2. Product Portfolio
12.5.12.3. Financial Overview
12.5.12.4. Business Strategies and Development
12.5.13. Cimarex Energy
12.5.13.1. Company Overview
12.5.13.2. Product Portfolio
12.5.13.3. Financial Overview
12.5.13.4. Business Strategies and Development
12.5.14. Exco Resources
12.5.14.1. Company Overview
12.5.14.2. Product Portfolio
12.5.14.3. Financial Overview
12.5.14.4. Business Strategies and Development
12.5.15. EQT
12.5.15.1. Company Overview
12.5.15.2. Product Portfolio
12.5.15.3. Financial Overview
12.5.15.4. Business Strategies and Development
13. Appendix
13.1. Research Methodology
13.2. Report Assumptions
13.3. Acronyms and Abbreviations