Increasing Australia’s domestic liquid fuel storage
Recently the Australian Government Department of Industry, Science, Energy and Resources, requested submissions for contributions in forming a strategic fuel storage policy for Australia.
Liquid fuel is critical and makes up around half of Australia’s energy consumption. Commercial storage, stocks and procurement have provided secure and reliable supply to meet Australia’s needs for many decades. However, the COVID-19 pandemic has highlighted limited flexibility in the fuel storage market when the supply and demand balance changes suddenly.
The Land Development Corporation has submitted a range of sites suitable for the storage of fuel in the Northern Territory.