APEC：2024年亞太經合組織能源概覽（英文版）（343頁）.pdf

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1、 APEC ENERGY OVERVIEW 2024 APEC ENERGY OVERVIEW 2024 DisclaimerThe views and opinions expressed in this publication belong solely to the authors.The expert group on energy data and analysis focal points and energy working group members of the respective economies were consulted to ensure the veracit

2、y of the information within.APEC ENERGY OVERVIEW 2024 Prepared by Asia Pacific Energy Research Centre(APERC)Inui Bldg.-Kachidoki 11F,1-13-1 Kachidoki,Chuo-ku,Tokyo 104-0054,JAPAN Tel:+81(3)5144-8551 Fax:+81(3)5144-8555 E-mail:overviewaperc.or.jp APERC Website:https:/aperc.or.jp For the Asia-Pacific

3、Economic Cooperation(APEC)Secretariat 35 Heng Mui Keng Terrace Singapore 119616 Tel:(65)6775 6012 Fax:(65)6775 6013 E-mail:infomail.apecsec.org.sg Website:http:/www.apecsec.org.sg 2024 APEC Secretariat APEC#224-RE-01.4 APEC ENERGY OVERVIEW 2024 i Foreword The APEC Energy Overview(the Overview)is an

4、annual publication that highlights the current energy situation in each of the 21 APEC economies.Since its first publication in January 2001,it has been the pioneer publication for APERC,showcasing the latest APEC energy data compiled by the Expert Group on Energy Data and Analysis(EGEDA).The Overvi

5、ew monitors progress toward meeting the two APEC energy goals,namely:1.Energy intensity improvement of 45%by 2035(relative to 2005).2.Doubling the modern renewable energy share in the APEC energy mix by 2030(relative to 2010).In 2021,the APEC-wide energy intensity had improved by 27%,leaving an 18%i

6、mprovement needed to meet the 2035 goal.The recent APEC Energy Demand and Supply Outlook 8th edition forecasts that APEC is expected to meet this goal in both the Reference and Carbon Neutrality scenarios of that report ahead of the schedule.Progress has also been made in doubling the share of moder

7、n renewables.Modern renewables in total final energy consumption in 2021 have increased by 3.9 percentage points or 66%of the way to the 2030 goal.Modern renewables in the total primary energy supply have increased,albeit slower,but by more than 50%compared with 2010,while the share of modern renewa

8、bles for power generation has increased by 62%.One of the highlights of the 2024 edition of the Overview includes data to 2021 and this begins to shed light on the extent of the continuing impact of COVID-19 and initial economic recovery from the pandemic.Additionally,each economy chapter discusses

9、many other trends,issues,policies,initiatives,and notable developments.The basis of this report is the EGEDA data that each member economy submits on an annual basis.We thank EGEDA members for their continued support in providing us with these data.We also encourage APEC member economies and other s

10、takeholders to make use of this publicly available resource to continue to develop,implement,refine and analyse energy policy,alongside other energy related analyses.Kazutomo Irie,PhD President Asia Pacific Energy Research Centre(APERC)Glen Sweetnam Chairman Expert Group on Energy Data and Analysis(

11、EGEDA)APEC ENERGY OVERVIEW 2024 ii Acknowledgements We would like to thank APEC member economies for the timely data information provided to ensure the accuracy and timeliness of this report.We would also like to thank members of the APEC Energy Working Group(EWG),APEC Expert Group on Energy Data an

12、d Analysis(EGEDA),and numerous government officials,for their helpful information and comments.The APEC Energy Overview 2024 could not have been accomplished without the contributions of many individuals and organisations in APEC.We would like to thank all those whose efforts made this publication p

13、ossible.We would also like to thank in particular those named below who contributed to the successful completion of this publication.PROJECT MANAGER Elvira Torres GELINDON PROJECT COORDINATOR Ting-Jui SUN MAIN CONTRIBUTORS Data Collection and Compilation:Expert Group on Energy Data Analysis(EGEDA)th

14、rough its Secretariat,the Energy Statistics&Training Office(ESTO),Asia Pacific Energy Research Centre(APERC).Economy Chapters:Mathew HORNE(Australia);Nabih MATUSSIN(Brunei Darussalam and Singapore);Leanne SARGENT(Canada);Juniko Parlinggoman PARHUSIP(Indonesia);Hyuga Kasai and Risa PANCHO(Japan);Zhic

15、hao LI(China and Hong Kong,China);Jung Yoon KIM(Korea);Mohd Shah Hambali Bin ARIFIN(Malaysia);Rodrigo MARTINEZ PICAZO(Mexico);Finbar Barton MAUNSELL(New Zealand and Papua New Guinea);Manuel Antonio HEREDIA MUNOZ(Peru and Chile);Noriel Christopher Regis REYES(the Philippines);Glen SWEETNAM(Russia);Ti

16、ng-Jui SUN(Chinese Taipei);Thanan MARUKATAT and Phawida JONGSUWANWATTANA(Thailand);Glen SWEETNAM and Yasmin FOULADI(United States);Quoc Huy PHUNG(Viet Nam).EDITORS Russell Gilbert of The English Editors;with internal editing and review from Elvira Torres GELINDON and Ting-Jui SUN of APERC GRAPHICS A

17、ND LAYOUT Elvira Torres GELINDON and Ting-Jui SUN ADMINISTRATIVE SUPPORT Yoshiaki IMAIZUMI,Hideyuki MAEKAWA,Hideyuki FUJISAWA,Mitsunori YOKOYAMA,Ikuno YAMAGUCHI and Eri OSANAI APEC ENERGY OVERVIEW 2024 iii Contents Foreword.i Acknowledgements.ii Contents.iii Commonly used abbreviations and terms.iv

18、Currency codes.v Introduction.vi Economy chapters Australia.1 Brunei Darussalam.21 Canada.31 Chile.60 China.73 Hong Kong,China.84 Indonesia.96 Japan.113 Korea.128 Malaysia.142 Mxico.159 New Zealand .176 Papua New Guinea.191 Peru.205 The Philippines.219 Russia.236 Singapore.251 Chinese Taipei.266 Tha

19、iland.287 United States.298 Viet Nam.313 APEC ENERGY OVERVIEW 2024 iv Abbreviation 2017 USD PPP APEC APERC ASEAN B/D Bcf bcm Btu GW GWh kL km km/L ktoe kV kW kWh Mbbl/D ML Term 2017 USD purchasing power parity Asia-Pacific Economic Cooperation Asia Pacific Energy Research Centre Association of South

20、east Asian Nations barrels per day billion cubic feet billion cubic metres British thermal units gigawatt gigawatt-hour kilolitre kilometre kilometres per litre kilotonne of oil equivalent kilovolt kilowatt kilowatt-hour thousand barrels per day million litres(megalitre)Mloe MMbbl MMbbl/D MMBFOE MMB

21、tu MMcf/D MMscf/D mpg Mt Mtce Mtoe MW PJ Tbbl/D tce Tcf toe tU TWh W Wh million litres of oil equivalent million barrels million barrels per day million barrels of fuel oil equivalent million British thermal units million cubic feet per day million standard cubic feet per day miles per gallon millio

22、n tonnes million tonnes of coal equivalent million tonnes of oil equivalent megawatt petajoules trillion barrels per day tonnes of coal equivalent trillion cubic feet tonnes of oil equivalent tonnes of uranium metal terawatt-hours watt watt-hours Commonly used abbreviations and terms APEC ENERGY OVE

23、RVIEW 2024 v Currency codes Code Currency Economy AUD Australian dollar Australia BND Brunei dollar Brunei Darussalam CAD Canadian dollar Canada CLP Chilean peso Chile CNY yuan renminbi China HKD Hong Kong dollar Hong Kong,China IDR rupiah Indonesia JPY yen Japan KRW won Korea MYR Malaysian ringgit

24、Malaysia MXN Mexican peso Mexico NZD New Zealand dollar New Zealand PGK kina Papua New Guinea PEN nuevo sol Peru PHP Philippine peso The Philippines RUB Russian ruble Russia SGD Singapore dollar Singapore TWD New Taiwan dollar Chinese Taipei THB baht Thailand USD US dollar United States VND dong Vie

25、t Nam APEC ENERGY OVERVIEW 2024 vi Introduction This years APEC Energy Overview comprises data up to 2021 and covers analyses on the initial economic recovery or the possible continuing impact of COVID-19 post-pandemic,on energy supply and demand across APEC economies.In addition to energy supply,tr

26、ansformation,and final consumption data for the period 2000 to 2021,an up-to-date accounting of energy policies and notable energy developments to 2024 is provided in each of the APEC member economy chapters.Energy Supply and Consumption Total primary energy supply The global economy experienced a g

27、rowth of 6.2%(PPP constant 2017 USD)in 2021,rebounding from economic slowdown in 2020.The APEC region,which was similarly significantly impacted by COVID-19,recovered with an economic output of around 6.1%(PPP constant 2017 USD)in 2021.The recovery in economic activity resulted in an increase in the

28、 APEC energy supply by over 19 exajoules(5.7%annual increase)to finally settle at 362 051 PJ in 2021(Figure 1).Renewables surged by 7.3%,contributing significantly to the overall rise in energy supply.All energy products similarly rebounded in 2021.Coal saw a 6.4%increase,gas by 5.4%and oil rose by

29、5.2%.By composition,in 2021,coal share of TPES reached 34.6%,followed by oil(27.4%),gas(23.9%),renewables(8.3%),and others(5.8%).Despite renewables expanding much faster than all other products,their share in TPES remains lower than fossil fuels.Figure 1:APEC energy supply by fuel(PJ),2000 to 2021 S

30、ource:EGEDA(2023)APEC continues to be a net energy importer from the rest of the world,but the proportion of net imports to energy supply has been declining rapidly for more than two decades(Figure 2).While net imports experienced a slight increase in 2021,its level was well below the 2018 level.Thi

31、s marks the third consecutive year that net imports have remained at this low since 2019.This three-year trend is attributed to the structural shift in the US and APEC Southeast Asian(SEA)economies.Between 2018 and 2021,the US and APEC SEA economies maintained their positions as net exporters while

32、China continued to be a net importer and net imports expanded,from 28 477 PJ to 33 030 PJ during the same period.Most of the energy reliance on 050 000100 000150 000200 000250 000300 000350 000400 0002000200120022003200420052006200720082009201020112012201320142015201620172018201920202021TPES by fuel

33、(PJ)CoalOilGasRenewablesOthersAPEC ENERGY OVERVIEW 2024 vii the rest of the world is tied to multiple APEC member economies importing oil from Middle East economies.But this reliance on the Middle East is being offset by the rise in energy production and exports from economies such as Australia;Cana

34、da;Indonesia;Russia(until 2021);and the US.Figure 2:APEC net energy imports as a proportion of supply,2000 to 2021 Source:EGEDA(2023)Total final consumption Total final consumption(which includes consumption of energy commodities by the non-energy sector)rebounded 4.4%to 233 850 PJ in 2021.Relaxatio

35、n of pandemic control measures,gradual recovery of transport,and recovery of economic activities were the main reasons for this rebound.The most significant rebound occurred in the transport sector with a 7.3%increase in 2021,but its level remained significantly lower than the pre-pandemic levels in

36、 2019.The non-energy sector,which drove the growth of final consumption in 2020,remained strong and grew 4.8%in 2021.Rebound was also seen in the final consumption in the services(4%)and industry(3.5%)sectors in 2021.Meanwhile,consumption in the residential sector,which was largely unchanged in 2020

37、 in view of the shift to work-from-home scheme for many workers,saw a rise of 2.2%in 2021.By composition,the industry comprised 33.4%of total final consumption in 2021,followed by transport(25.4%),residential(16%),non-energy(12.4%),commercial(8.2%),and agricultural and other sectors(4.6%).Figure 3:A

38、PEC final consumption by sector(PJ),2000 to 2021 Source:EGEDA(2023)0%2%4%6%8%10%12%20002005201020152020Net imports proportion 050 000100 000150 000200 000250 0002000200120022003200420052006200720082009201020112012201320142015201620172018201920202021Final energy demand by sector(PJ)IndustryTransportC

39、ommercialResidentialAgriculture&othersNon-energyAPEC ENERGY OVERVIEW 2024 viii In terms of final energy consumption by energy products,electricity saw the fastest increase at 7.2%,leading to a 33.6%share of final energy consumption.Mirroring the increases in most of the energy-consuming sector,oil a

40、nd gas showed an increasing trend,rising by 6.2%and 3%,respectively.Coal consumption continued its decline and fell 5.4%in 2021.As a result,oil retained the second-largest share of final energy consumption at 32.9%,followed by gas(18%),coal(11.3%),and non-electricity renewables(4.3%).Transformation

41、Power sector Power generation in APEC increased significantly(up 6.4%)to exceed 18 600 TWh in 2021.Other renewable generation(which include solar and wind)still maintained the fastest growth at 25%in 2021.Thermal power generation showed a strong recovery(6.1%)after declining in 2020 due to the pande

42、mic;in particular,oil(8.6%increase)and coal(8.1%)remarkably rebounded in 2021.Nuclear electricity generation also recovered,by 3.4%.However,power generation from hydro and geothermal individually remained declining at by 1.3%and 0.3%,respectively in 2021.APECs power generation still relies on therma

43、l sources with,64.5%of power generation.The total share of renewable energy in power generation reached 25.2%in 2021,accounting for a quarter of the total power generation.Nuclear has a 9.7%share in power and has had a stable increase since 2012,except in 2020.Figure 4:APEC electricity generation by

44、 fuel,2000 to 2021 Source:EGEDA(2023)Energy Transition Emissions As energy consumption rebounded alongside economic activities in 2021,CO2 emissions in the APEC region also experienced a remarkable surge.Although renewable energy increased much faster than fossil fuels,it remains at a relatively low

45、 base.As a result,CO2 emissions from fuel combustion grew 4.8%in 2021,reversing the decline brought by the reduced mobility during COVID-19 pandemic in 2020(Figure 5).0 2 000 4 000 6 000 8 000 10 000 12 000 14 000 16 000 18 000 20 000200020012002200320042005200620072008200920102011201220132014201520

46、1620172018201920202021Electricity generation(TWh)CoalOilGasHydroNuclearGeothermalOther renewablesOthersAPEC ENERGY OVERVIEW 2024 ix Figure 5:APEC CO2 combustion emissions(million tonnes),2000 to 2021Source:EGEDA(2023)APEC Energy Goals There are two energy-related objectives that APEC member economie

47、s have agreed to meet as a collective to improve energy intensity and double the share of modern renewables.Energy intensity goal In 2011,APEC member economies agreed to increase their ambition to reduce energy intensity by 45%in 2035,relative to a 2005 baseline.The original goal was a 25%improvemen

48、t by 2030,relative to a 2005 baseline.As of 2021,APEC-wide final energy intensity has improved 27%compared to the 2005 level,leaving an additional 18%improvement needed to meet the 2035 goal(Figure 6).APEC is on track to achieve this energy intensity improvement if current trends continue.Figure 6:A

49、PEC total final energy consumption intensity index,2000 to 2021(2005=100)Source:EGEDA(2023)The observed improvement in primary energy supply intensity(not shown here,25%improvement)is very close to the observed improvement in final energy intensity.Doubling of renewables The second energy goal invol

50、ves doubling the share of modern renewables in the APEC energy mix for the period 2010 to 2030.Modern renewables do not include traditional biomass,which is typically relied on in emerging economies for household energy needs and is associated with negative health outcomes.Many APEC economies are en

51、acting policies to reduce traditional biomass CO2combustion emissions 05 00010 00015 00020 00025 00020002005201020152020Million tonnes CO2Total final energy consumption energy intensityAPEC-wide goal 203502040608010012020002005201020152020202520302035Energy intensity index(2005=100)APEC ENERGY OVERV

52、IEW 2024 x consumption,either through upgrading fuel stoves,or via facilitating switching to alternative fuels such as natural gas,liquefied petroleum gas(LPG),or electricity.The modern renewables share of final energy consumption has increased from 6%in 2010 to almost 9.9%in 2021,which is a 66%impr

53、ovement.This means that APEC is ahead of schedule to double its share of modern renewables by 2030(Figure 7).Figure 7:APEC modern renewable energy share in final energy consumption,2010 through to 2030 Source:EGEDA(2023)Note:Biomass used in the residential and commercial sectors is assumed to be tra

54、ditional biomass and is not included in the definition of modern renewables.All other renewables(biomass used by industry,hydro,geothermal,etc.)are considered modern renewables.Modern renewables also include the share of electricity that is generated from renewable sources.Progress has also been mad

55、e in doubling the share of renewables in the electricity mix by 2030(relative to 2010).Renewable generation accounts for 25%of APEC electricity generation in 2021,up from 15.6%in 2010(Figure 8).Figure 8:APEC modern renewable energy share in the electricity mix,2000 to 2020 Source:EGEDA(2023)In terms

56、 of supply,modern renewables in TPES have increased from 4.8%in 2010 to 7.5%in 2021,which is almost a 53%increase at the halfway mark to the goal year of 2030.APEC-wide share change to 2021Share required to meet doubling0.0%2.0%4.0%6.0%8.0%10.0%12.0%14.0%20102010 to 20212021 to 2030requirement2030 A

57、PEC targetRenewables share in electricity mixAPEC doubling goal 20300.0%5.0%10.0%15.0%20.0%25.0%30.0%35.0%2000200520102015202020252030ProportionAPEC ENERGY OVERVIEW 2024 xi Economy chapters APEC ENERGY OVERVIEW 2024 1 Australia Introduction Australia updated its nationally determined contribution(ND

58、C)in June 2022,committing to reduce greenhouse gas emissions to 43%below 2005 levels by 2030.This is a significant expansion of the prior commitment of a 26 to 28%reduction for the same period.Australias updated NDC also includes a commitment to achieve net zero emissions by 2050.The updated NDC com

59、mitments were legislated via the Climate Change Act 2022.Underpinning the legislated NDC is an Australian Government plan to reach 82%renewable generation by 2030(Powering Australia,2024).The share of renewables generation for 2023 in the National Electricity Market(NEM)was 38%(AEMO,2024).More than

60、doubling the current renewable generation share will rely on a significant buildout of offshore wind,continued growth in rooftop and utility scale solar PV,for Snowy 2.0(2.2 GW capacity)to become operational,and for regulatory approval,integration,distribution,and transmission challenges,that facili

61、tate a much higher share of renewables,to be met.Current high population growthpopulation is anticipated to reach almost 37 million in 2050(Intergenerational Report,2023)and rapid electrification of end-use sectors will be an additional challenge in delivering high levels of renewable generation.The

62、 high prices for energy commodities brought about by the COVID-19 recovery and geopolitical volatility are abating but remain historically high.The largest energy commodity earner for Australia for the past few years,LNG,generated export earnings that surpassed AUD 92 billion in 202223,up by almost

63、a third.An easing of geopolitical pressures and expanded LNG supplies from the US and Qatar should see prices and export earnings fall in the coming years.Australias thermal coal export revenues also increased by a third,reaching AUD 65 billion in 202223(REQ,2023).A large coal inventory in China and

64、 fewer anticipated global supply disruptions mean that earnings are likely to be lower for 2024,even with resiliency in short-term production volumes.Metallurgical coal export earnings were AUD 61 billion in 202223,but this represented a decline of almost 10%from the previous financial year and the

65、very high prices of 2021.Volumes are likely to increase in the coming year,though earnings are anticipated to continue to fall due to prices returning to much lower levels.Table 1:Australia macroeconomic data and energy reserves Key data a,b Energy reserves c,d Area(million km2)7.7 Oil(billion barre

66、ls)2.4 Population(million)27 Gas(trillion cubic feet)84.4 GDP(2017 USD billion PPP)1278.6 Coal(million tonnes)150 227 GDP per capita(2017 USD PPP)49 774 Uranium(kilotonnes U USD 130/kgU)1 239 Source:a ABS(2024);b World Bank(2024);c Energy Institute(2023);d UN(2024)Note:Reserves are total proved rese

67、rves and reasonably assured recoverable resources for uranium.APEC ENERGY OVERVIEW 2024 2 The high global prices for energy commodities have transmitted through to many Australian consumers.The Australian Government has attempted to shield east coast consumers from these high prices by instituting a

68、 domestic wholesale natural gas price cap of AUD 12 per gigajoule.However,LNG exporters controlling 90%of east coast gas supply has meant incentives have not aligned for new gas to be made readily available(ACCC,2023).Uncertainty over how the gas market will develop over the next few decades has als

69、o hampered investment in pipelines that would more readily transport gas domestically.The market power of LNG exporters has meant the price cap acts like a price floor and is only applicable for the small proportion of gas consumption that has been newly contracted.These high price gas market condit

70、ions are also influential for electricity prices due to gas generation regularly being the marginal price setter for wholesale electricity prices in the NEM.Wholesale gas and electricity prices in Western Australia are lower,in part,due to a policy of domestic gas reservation,but delays in new gas s

71、upply and rising demand from domestic consumers are also bringing about price rises(S&P Global,2023).Australia has the largest uranium reserves in the world,though only accounts for the fourth highest production or uranium behind Kazakhstan,Canada,and Namibia(World Nuclear Association,2023).Most of

72、Australias relatively small level of oil production is from the remote North West Shelf.Distance from Australias refineries and ill-suited grades mean that most of the oil is exported(Geoscience,2023).Energy Supply and Consumption Total primary energy supply Australias energy supplyenergy that is ul

73、timately consumed domesticallyfell by 2.9%in 2021 to just over 5 450 PJ.But this reduction was outshone by a fall in production of over 1 100 PJ.Two years of wet weather and labour force disruptions(from the COVID-19 pandemic and labour shortages)had a large impact on coal production,explaining most

74、 of this fall(REQ,2023).While the 5.8%fall in energy production was large,the pullback has been a rare blip of the past two decades.Energy production has increased by more than 80%since 2000 with almost all this production destined for export markets,mostly in Asia.Figure 1:Australia energy supply,p

75、roduction,and net imports(PJ),2000 to 2021 Source:EGEDA(2023)Australia was the fifth-largest global producer of coal and the seventh-largest global producer of natural gas in 2022(EI,2023).Almost 90%ProductionNet importsTotal Primary Energy Supply-15 000-10 000-5 000 05 00010 00015 00020 00025 00020

76、002005201020152020Production,net imports and TPES(PJ)APEC ENERGY OVERVIEW 2024 3 of Australias coal production is exported to meet demand from coal-fired power plants(thermal coal)and blast furnaces for steel production(metallurgical coal)that are in Asia.Metallurgical coal accounts for less than on

77、e-fifth of APEC coal consumption,though it accounts for almost half of Australias coal exports.Australia shipped its first LNG cargo from the North West Shelf,Western Australia in 1989.The north-western regions of Australia continued to account for all of Australias LNG exports until unconventional

78、coal seam gas resources from the Surat and Bowen basins were developed in Queensland.The first east coast LNG cargo was shipped from Gladstone,Queensland in 2015,and has since led Australia to challenge to being the largest global LNG exporter.Australia and Qatar both accounted for a 21%share of glo

79、bal LNG exports in 2022.Figure 2:Australia energy supply by fuel(PJ),2000 to 2021 Source:EGEDA(2023)The US is poised to challenge for the leading LNG title with significant additions to LNG exporting becoming operational in the mid-2020s(EI,2023).The US and Qatar are also both generally lower down t

80、he LNG cost curve than coal seam gas supply from Australia.Australias energy supply was slowly increasing until the global financial crisis in 2008.Energy supply has mostly maintained a high plateau since then,even though population has increased by a fifth and economic output has increased by more

81、than a quarter.The accumulation of improvements in energy efficiency partially explains why this plateau is observed(Figure 2).Non-combustible renewableswind and solarreplacing fossil fuels also constrains growth in energy supply,due to their statistical treatment.Figure 3:Energy supply mix Australi

82、a and APEC,2021 Source:EGEDA(2023)Coal supply fell for the third year in a row,to 31%of Australias supply 01 0002 0003 0004 0005 0006 0002000200120022003200420052006200720082009201020112012201320142015201620172018201920202021TPES by fuel(PJ)CoalOilGasRenewablesOthersCoalOilGasRenewablesOther0%20%40%

83、60%80%100%AustraliaAPECAPEC ENERGY OVERVIEW 2024 4 mix in 2021.Oil supply(which includes petroleum products imports)also fell in 2021,by 4.3%,but remained the most prominent absolute source of supply for the second year running.Natural gas supply bucked its trend of the last four years by falling 1.

84、7%in 2021.There is a current trend away from using natural gas in many end-use applications,but it is playing an important role in the power sector,via gas-fired peaking turbines to help meet the challenge of variable renewable generation.There is also significant consumption of natural gas associat

85、ed with the liquefaction process required for LNG exports,though that is unlikely to be a source of growth moving forward.Renewables supply increased by 10.4%in 2021,so that they now account for 8.4%of Australias energy supply.Australia may have world-beating levels of solar PV(one-in-three househol

86、ds),but other APEC economies have very significant hydro generation that contributes to APEC having a similar share of renewables(8.3%)to Australia.When compared to APEC,oil is more prominent due to Australias transport sector.Australia has high levels of car ownership and people and freight move gr

87、eater distances between population centres than in many other APEC economies.Australian consumer preferences are also for larger sport utility vehicles,which mean that recent energy efficiency gains are being offset by more energy hungry vehicles(energy.gov.au,2024).Total final consumption Australia

88、s energy supply of 5 453 PJ in 2020 flows through to 3 306 PJ of end-use demand.This means that almost two-fifths is consumed in the transformation process,which comprises own use and losses.Total final consumption,which includes the consumption of energy commodities by the non-energy sector,increas

89、ed marginally(0.3%)in 2021,and is almost 4%lower than peak consumption in 2018.Commercial sector energy consumption posted another fall(3.8%)in 2021 due to COVID-19 activity restrictions.But just like in 2020,this was counterweighed by an increase in residential energy consumption,which increased 2.

90、0%.The increase in residential energy consumption is partly explained by COVID-19 and the greater level of economic activity that is now occurring in households.Figure 4:Australia final consumption by sector(PJ),2000 to 2021 Source:EGEDA(2023)The transport sector posted another fall(3.2%)in consumpt

91、ion in 2021.Lockdowns and COVID-reduced mobility,including interstate travel restrictions and increased working from home,impacted road and air transport strongly through 2020 and 2021lockdown and state-border restrictions ended progressively from late 2021 to early 2022.In contrast,APEC transport e

92、nergy consumption boomed in 2021,0 5001 0001 5002 0002 5003 0003 5004 0002000200120022003200420052006200720082009201020112012201320142015201620172018201920202021Final energy demand by sector(PJ)IndustryTransportCommercialResidentialAgriculture&othersNon-energyAPEC ENERGY OVERVIEW 2024 5 increasing b

93、y 7.3%,with many APEC economies rapidly reopening,aided by vaccine rollout.Australias industrial energy consumption has maintained a similar level for most of the last two decades(Figure 4).The commodity and resources boom of the 2000s and 2010s led to increased minerals mining activity(the energy c

94、onsumption is captured in the industry sector),but this was not enough to offset the impacts of a strong Australian dollar and the offshoring of many other industrial enterprises.The accelerating rollout of renewables and batteries will require large quantities of minerals such as lithium and rare e

95、arth elements,that Australia is well placed to supply.Figure 5:Final consumption by sector,Australia and APEC,2021 Source:EGEDA(2023)The Australian Government has developed a Critical Minerals Strategy(2023)that not only prioritises greater mining activity,but also seeks to expand downstream process

96、ing that could contribute to an industrial revival in the coming decades.Difficulty for Australian manufacturers to secure reliable long-term gas supply at a competitive price will provide an incentive for the electrification of many industrial pursuits.The rise of renewable powered industry,such as

97、 green steel,will be an opportunity for Australia to pursue due to its vast wind and solar renewable potential.But these prospects require significant infrastructure and technological development that are unlikely to be realised until at least the 2030s.In the interim,lack of reliably sourced gas su

98、pply will be a disadvantage for Australian manufacturers.Final energy demand Final energy demand excludes the consumption of energy products by the non-energy sector and is a subset of final consumption.Transport energy consumption is still mostly tied to oil(refined products)in all APEC economies.F

99、or Australia,almost four-fifths of refined product consumption is by the transport sector.Refined products are also used in all other end-use sectors,such as diesel in minerals mining(industry),LPG in residential buildings,and diesel generators in commercial buildings.These use cases combine to mean

100、 that oil accounted for half of Australias final energy demand in 2021,with this share higher than it was in 2000(47%).IndustryTransportCommercialResidentialAgriculture&othersNon-energy0%20%40%60%80%100%AustraliaAPECAPEC ENERGY OVERVIEW 2024 6 Figure 6:Australia final energy demand by fuel(PJ),2000

101、to 2021 Source:EGEDA(2023)Note:Does not include non-energy sector consumption of energy products.Wide-scale electrification of end-use applications has yet to occur and so electricity has yet to rise in prominence,maintaining a share of roughly a quarter for most of the previous two decades.With the

102、 rise of electric vehicles,and a move to electrifying other sectors,electricity is anticipated to undergo significant growth in the next few decades.See the 8th edition of the APEC Energy Demand and Supply Outlook for an analysis and discussion of these trends.Australias relatively small heavy indus

103、try sector means that coal consumption in applications such as steel making,cement,and chemicals manufacturing is relatively low.The other end-use sectors use almost no coal in Australia.Figure 7:Final energy demand fuel share,Australia and APEC,2021 Source:EGEDA(2022)Roughly three-quarters of Austr

104、alias natural gas production was exported in 2021.A large portion of this production occurs in the north-west and is unavailable to domestic east coast consumers,due to limited domestic pipeline networks and no LNG import terminals.There are currently multiple proposals to build LNG import facilitie

105、s at locations on the east and south coasts,and one of these projects is nearing completion at Port Kembla in NSW.It is uncertain whether additional import terminals will be built.Heating and cooking applications within the buildings sectors have been among the most prominent sources of natural gas

106、demand.Multiple manufacturing applications have also relied on the consistent heating properties of natural gas and its ability to generate high heat.But higher prices and difficulty in securing long-term contracts on the 0 5001 0001 5002 0002 5003 0003 5002000200120022003200420052006200720082009201

107、020112012201320142015201620172018201920202021Final energy demand by fuel(PJ)CoalOilGasRenewablesElectricity and othersCoalOilGasRenewablesElectricity and others0%20%40%60%80%100%AustraliaAPECAPEC ENERGY OVERVIEW 2024 7 east coast had been constraining natural gas demand in the lead up to COVID-19.In

108、 2021,natural gas consumption increased by 1.6%,which was partly due to lower global demand that freed up supply for domestic consumption.This small increase is likely to be a fluctuation away from the longer-term decline in domestic natural gas consumption.Australias domestic consumption of gas is

109、likely to stay lower than for the APEC region(Figure 7).The small size of Australias heavy industry sector provides a partial explanation for the relatively low consumption of coal by Australian end-use energy consumers.Australias relatively low consumption of electricity also correlates with the hi

110、gh relative share of the transport sector,which is dependent on refined products(oil).With the rise of EVs,end-use electricity consumption is likely to grow faster in Australia than for other economies that have a less prominent transport sector.Transformation Power sector Coal remains the dominant

111、source of electricity generation for Australia.However,coals share in the generation mix has fallen from well over 80%at its peak to 53%in 2021.The rapid rise in renewable generation,particularly solar PV,has negatively impacted the economics of coal-fired power.With continued rapid renewables deplo

112、yment,coal is likely to be phased out in the 2030s,as long as regulatory,integration,distribution,and transmission challenges of integrating a very high share of renewable are met.Figure 8:Australia electricity generation by fuel,2000 to 2021 Source:EGEDA(2023)Natural gas-fired generation had been i

113、ncreasing strongly for a decade but fell by almost 10%in 2021.Much of this fall accommodated the sustained very large increase in renewable generation,which accounted for a 26.5%share in 2021.The very large increase in renewable generation is supported by Australias world-leading solar rooftop PV ra

114、tes of installation.The rise of rooftop solar is partly due to very favourable solar radiation conditions,and partially to do with policy support from state and federal governments.One in three Australian homes have a solar panel system installed.The complementary rise of utility scale solar and win

115、d means that renewable generation is continuing to accelerate(Figure 8).0 50 100 150 200 250 3002000200120022003200420052006200720082009201020112012201320142015201620172018201920202021Electricity generation(TWh)CoalOilGasHydroNuclearGeothermalOther renewablesOthersAPEC ENERGY OVERVIEW 2024 8 Figure

116、9:Electricity generation fuel share,Australia and APEC,2021 Source:EGEDA(2023)The other renewables generation category,which includes solar PV,increased by 24%in 2021.This amounted to almost 11 000 GWh,which more than offset the decline in coal-fired power generation.The relative share of the other

117、renewables category for Australia is almost double the size for APEC.Australias hydro generation is under two-fifths of the relative share of hydro in the APEC generation mix.The Snowy Hydro 2.0 scheme will provide an additional two gigawatts of pumped hydro capacity but is now delayed until 2029.Wh

118、en this capacity is eventually available,hydro generation is poised to increase,but it will remain significantly lower than hydro-dominant APEC economies like Canada and New Zealand.Refining The federal government has announced support measures for Australias remaining two refineries in Geelong,Vict

119、oria and Lytton,Queensland to continue to meet some of Australias demand for refined products until at least 2030.These remaining two refineries have an output that fulfils just under a quarter of Australias petroleum product consumption in 2023(Australian Petroleum Statistics,2023).Energy Transitio

120、n Since a new federal government was elected in May 2022,commitments that support Australias legislated net zero 2050 commitment have accelerated.A National Net Zero Authority has been established to ensure the opportunities are shared widely,including with workers and communities that are associate

121、d with emissions intensive sectors(Prime Minister of Australia,2023).At the end of 2022,Australian federal,and state and territory,energy ministers introduced the Commonwealth Capacity Investment Scheme(CIS).The scheme aims to develop a capacity market for clean dispatchable storage and generation t

122、o ensure reliability and security while delivering much lower emissions from Australias electricity grid.In November 2023,the Australian Government announced an expansion to the scheme to target a total of 32 GW of new capacity,made up of:23 GW of renewable capacity representing AUD 52 billion in in

123、vestment 9 GW of clean dispatchable capacity representing AUD 15 billion in investment.CoalOilGasHydroNuclearGeothermalOther renewablesOthers0%20%40%60%80%100%AustraliaAPECAPEC ENERGY OVERVIEW 2024 9 The expanded CIS will be rolled out from 2024 to 2027 with regular competitive tenders held approxim

124、ately every six months,starting in April/May 2024.Some 14 GW of the CIS will be rolled out through a guaranteed tender,with the remaining 18 GW delivered through Renewable Energy Transformation Agreements.New transmission infrastructure to deliver renewable energy and increased generation is being s

125、upported by low-cost finance(Rewiring the Nation,2022).The locations of these new sources of power will be guided by renewable energy zone analysis by the Australian Energy Market Operator(AEMO),which includes Offshore Wind Zones analysis(AEMO,2022).The Australian Government has also announced up to

126、 AUD 1 billion funding for the Solar Sunshot program in March 2024.The program aims to support facilities along the supply chain of Australias solar photovoltaic(PV)manufacturing(ARENA,2024).Australia is supporting multiple hydrogen initiatives to capitalise on potential demand.Details of these hydr

127、ogen initiatives are available in the energy policy section later in the chapter.The Department of Climate Change,Energy,the Environment and Water has also ensured that energy policy is more closely aligned with environmental considerations,to support energy transition objectives.Emissions The exper

128、t group on energy data and analysis(EGEDA)falls under the umbrella of APECs Energy Working Group(EWG).In addition to energy data compiled by EGEDA,CO2 emissions from combustion activities in the energy sector are recorded.These emissions are a subset of total greenhouse gas(GHG)emissions that are co

129、nsidered in the context of climate change,such as under the United Nations Framework Convention on Climate Change(UNFCCC).For Australia,CO2 combustion emissions have maintained a high plateau for most of the last decade,though they have fallen in 2020 and 2021.This fall was partly due to a decline i

130、n economic activity that was brought on by the COVID-19 pandemic and partly due to the rapid rise in renewable generation.Figure 10:Australia CO2 combustion emissions(million tonnes),2000 to 2021 Source:EGEDA(2023)The EGEDA emissions data presented here only accounts for CO2 from energy combustion(f

131、rom transformation and end-use activities),calculated using default Intergovernmental Panel on Climate Change emission factors and energy contents.Due to these reasons,this data does not closely match Australias emissions reported under UNFCCC guidelines.Australia joined the Global Methane Pledge in

132、 October 2022,with CO2combustion emissions 280 290 300 310 320 330 340 350 360 370 380 39020002005201020152020Million tonnes CO2APEC ENERGY OVERVIEW 2024 10 participant economies agreeing to a collective effort to reduce global methane emissions at least 30%from 2020 levels by 2030.Energy security E

133、ven though Australia produces much more energy than it consumes,energy security has become an increasingly prominent issue in recent years.The difficulty in securing natural gas supply,and the much higher prices for that supply,mean that Australian consumers are in a similar predicament to many Euro

134、pean and Asian consumers.The much higher global price for coal and gas has also impacted Australias electricity markets and is a prominent reason for the increased levels of inflation that Australia has experienced since 2022.The unprecedented spikes in energy prices have sparked significant debate

135、in Australia about energy policy settings.Two-thirds of the respondents of a survey of top economists(Economic Society of Australia,2022)advocated intervention in response to these challenging market conditions.The proposed interventions include a cap on domestic prices,a tax on wartime profits that

136、 can then be used to finance subsidies,or domestic reservation.In December 2022,the Australian Government implemented a wholesale price cap of AUD 12 per gigajoule for natural gas and AUD 125 per tonne of black coal(Energy Price Relief Plan,2024).The price cap for gas applies to new domestic wholesa

137、le gas contracts by east coast producers.However,because 90%of gas supply is controlled by the east coast LNG producer-exporters,east coast consumers have still found it difficult to secure a ready supply(ACCC,2023).To deliver price relief will require an intervention such as domestic reservation,gu

138、aranteeing requisite supply,or an intervention that encourages a more competitive supply landscape.The Future Gas Strategy,released May 2024,attempts to meet these challenges(Department of Industry,Innovation,Science and Resources,2024).Australia has been non-compliant with the International Energy

139、Agency(IEA)90 days of oil stock requirement since 2012.The federal government signed an agreement with the US in 2020 to lease a portion of the US Strategic Petroleum Reserve(SPR)as part of a commitment to return Australia to compliance by 2026.Economy owned oil held in the SPR was released to the m

140、arket in response to the IEAs March collective action.A collective action is a coordinated release of oil that aims to stabilise the market and put downward pressure on prices.The closure of two of the remaining four oil refineries in Australia in 2021 means that Australia is now more reliant on sou

141、rces of refined products supply,and less reliant on sources of crude oil supply.APEC Energy Goals There are two energy-related objectives that APEC member economies have agreed to meet as a collective:to improve energy intensity and double the share of modern renewables.Energy intensity goal In 2011

142、,APEC member economies agreed to increase their ambition to reduce energy intensity by 45%in 2035,relative to a 2005 baseline.The original goal was a 25%improvement by 2030,relative to a 2005 baseline.APEC is on track to achieve this energy intensity improvement.The goal does not impose individual e

143、conomy targets,but it is possible to track the progress of individual APEC economies relative to the overarching proportional improvement.APEC ENERGY OVERVIEW 2024 11 Figure 11:Australia total final energy consumption intensity index,2000 to 2021(2005=100)Source:EGEDA(2022)Australias final energy de

144、mand energy intensity has been consistently improving at a rate of between 1.5 and 2%per annum for the two decades to 2021(Figure 11).This represents more than a 26%improvement since 2005.Energy supply intensity has improved by just under 23%for the same period,with the discrepancy partly due to the

145、 large ramp in LNG operations and associated large own-use and energy losses.Doubling of renewables The second energy goal involves doubling the share of modern renewables in the APEC energy mix for 2010 to 2030.There is no economy-level goal for individual member economies,but individual economies

146、will contribute to the doubling goal.Figure 12:Australia modern renewable energy share,2010 and 2021 Source:EGEDA(2023)Note:Biomass used in the residential and commercial sectors is assumed to be traditional biomass and is not included in the definition of modern renewables.All other renewables(biom

147、ass used by industry,hydro,geothermal,etc.)are considered modern renewables.Modern renewables also include the share of electricity that is generated from renewable sources.The share of modern renewables in Australias final energy demand mix increased from 6.3%in 2010 to 10.8%in 2021,which was a 72%

148、increase.Australias large year-on-year increases in renewable generation explain most of this increase.Total final energy consumption energy intensityAPEC-wide goal 203502040608010012020002005201020152020202520302035Energy intensity index(2005=100)Change from 2010 to 20210.0%2.0%4.0%6.0%8.0%10.0%12.

149、0%2010Change2021APEC ENERGY OVERVIEW 2024 12 Figure 13:Australia renewable generation share,2000 to 2021 Source:EGEDA(2023)Electricity generation from renewables increased from 22.5%in 2020 to 26.5%in 2021,which was triple the 2005 level of 8.8%(Figure 13).The large pullback in 2015 coincided with t

150、he end of Australias carbon price in 2014 and a collapse in renewables investment.The short-lived carbon price,from 2012 to 2014,correlated with an increase in renewable generation but it is difficult to determine how large the impact was from the imposition of this short-lived price.The sustained r

151、ise of the late 2010s was largely due to the rise of rooftop solar,though the growth of utility scale solar and wind generation capacity is also accelerating.In 2021,the annual increase in renewable generation was more than 18%,which was large considering that hydro generation was flat.Solar and win

152、d capacity continues to accelerate and is supporting increased climate ambitions such as Australias updated NDC,released in 2022.However,it remains to be seen whether this pace of increase can deliver on the Australian Government target of 82%renewable generation by 2030.A more recent update shows t

153、hat renewable generation reached 35%in 2023(Australian Energy Statistics,2024).Renewables share in electricity mix0%5%10%15%20%25%30%20002005201020152020Proportion 13 Energy Policy Energy policy Details Reference Paris Agreement Nationally Determined Contribution To reduce greenhouse gas emissions b

154、y 43%below 2005 levels by 2030.To achieve net zero emissions by 2050.These are enshrined in law in the Climate Change Act 2022.Australia has also set a target to grow the renewable share of the National Electricity Market to 82%by 2030 but this has not been legislated.Department of Climate Change,En

155、ergy,the Environment and Water Energy price relief plan The Commonwealth introduced an emergency gas price cap,at AUD 12 per gigajoule on new wholesale gas sales by east coast producers.The Australian Government has worked with the NSW and Queensland governments to set an effective cap for the price

156、 of coal used for electricity generation at AUD 125 a tonne.Department of Climate Change,Energy,the Environment and Water Powering Australia Plan The Australian Governments Powering Australia Plan is focused on creating jobs,cutting power bills,and reducing emissions by boosting renewable energy.It

157、includes:AUD 20 billion investment in transmission.AUD 102 million for community solar banks.AUD 224 million for the installation of 400 community batteries.AUD 1.9 billion for powering the regions fund.Department of Climate Change,Energy,the Environment and Water Offshore Wind Strategy Unlocking th

158、e power of offshore wind in Australia will help improve energy security as coal fire power stations retire,as well as improving affordability,and sustainability and bring the economy another steps closer to net zero by 2050.Department of Climate Change,Energy,the Environment and Water National Capac

159、ity Investment Scheme(CIS)The scheme will provide an economy framework to encourage new investment in clean dispatchable capacity to support reliability and reduce the risk of price shocks in Australias rapidly changing energy market.Expansion details provided in notable energy developments section.

160、energy.gov.au Critical Minerals Strategy 2023-2030 This updated strategy builds on the first Critical Minerals Strategy,published in 2019.It has a vision to put Australia at the centre of meeting the growing demand for critical minerals.It will underpin the economys prosperity and security by improv

161、ing access to reliable,secure and resilient supplies of critical minerals.Department of Industry,Science and Resources 14 Energy policy Details Reference Safeguard mechanism The safeguard complements the ACCU Scheme(previously ERF)by placing a legislated obligation on Australias largest greenhouse g

162、as emitters to keep net emissions below their emissions limit(or baseline).These baselines will decline on a trajectory consistent with achieving Australias emission reduction targets of 43%below 2005 levels by 2030 and net zero by 2050.The targets were legislated into Australian law in 2022.Clean E

163、nergy Regulator ACCU Scheme(previously known as Emissions Reduction Fund)This legislated scheme allows participants to earn Australian Carbon Credit Units(ACCUs)for every tonne of emissions reduced or sequestered through a project.These credits can be sold to the Australian Government or to other bu

164、yers in the market.The Independent Panel,which released its completed review of ACCUs in December 2022,concluded the scheme arrangements are sound,while recommending some changes to strengthen the scheme.The government is working with stakeholders to implement the recommendations from the Review.Cle

165、an Energy Regulator Australias National Hydrogen Strategy Designed to establish Australias hydrogen industry as a major global player by 2030.Australia is currently reviewing this strategy.Department of Climate Change,Energy,the Environment and Water Rewiring the Nation Rewiring the Nation is AUD 20

166、 billion program to provide low-cost finance to upgrade,expand and modernise Australias electricity grid and drive down power prices.Department of Climate Change,Energy,the Environment and Water Growing Australias hydrogen industry(Multiple initiatives)Various hydrogen projects,with the potential to

167、 help revitalise manufacturing,support regional economies,create jobs,investment,and trade opportunities,while helping Australia achieve its decarbonisation targets.Department of Climate Change,Energy,the Environment and Water The National Greenhouse and Energy Reporting scheme A single domestic fra

168、mework for mandatory reporting and dissemination of company information about greenhouse gas emissions,energy production,energy consumption,and other information from the energy,waste,and industrial processes sectors.Clean Energy Regulator and DCCEEW Bilateral Renewable Energy Transformation Agreeme

169、nts On 23 November 2023 the Commonwealth announced a significant expansion of the Capacity Investment Scheme(CIS)with additional capacity to be negotiated with state and territory governments through bilateral Renewable Energy Transformation Agreements(RETAs).Building on successful collaboration to

170、date under the National Energy Transformation Partnership,RETAs are designed to detail how the Commonwealth and respective state and territory governments will work together to achieve shared objectives in the renewable energy transformation.Department of Climate Change,Energy,the Environment and Wa

171、ter 15 Energy policy Details Reference Energy and Climate Change Ministerial Council(ECMC)The ECMC is a forum for the Commonwealth,Australian states and territories,and New Zealand to work together on priority issues of domestic significance and key reforms in the energy and climate change sectors.T

172、he Hon Chris Bowen MP,Minister for Climate Change and Energy,chairs the ECMC.This council replaced the former Energy National Cabinet Reform Committee in 2022.Department of Climate Change,Energy,the Environment and Water National Energy Customer Framework Regulates the connection,supply,and sale of

173、energy(electricity and gas)to grid-connected residential and small-business energy customers.Department of Climate Change,Energy,the Environment and Water Australias fuel security package Various measures to increase domestic storage and hold a sovereign refining capability that meets Australias nee

174、ds during an emergency.Department of Climate Change,Energy,the Environment and Water Energy emergency management forums Participation in gas,liquid fuel,and electricity emergency management forums to ensure effective communication and collaboration between governments and industry in energy supply e

175、mergencies.Department of Climate Change,Energy,the Environment and Water Trusted Information Sharing Network The Trusted Information Sharing Network for Critical Infrastructure Resilience Energy Sector Group is a forum for sharing information on security issues and practical measures to improve the

176、resilience of energy infrastructure to all hazards.Cyber and Infrastructure Security Centre Energy supply policy The Australian Government is ensuring supply security,reliability,and affordability via clean energy and electricity market reforms,delivering priority transmission projects and pumped hy

177、dro,and supporting the Tasmanian energy taskforce.Department of Climate Change,Energy,the Environment and Water Subsidies for residential(and commercial)storage and/or PV State-based government programs providing incentives for solar PV installations.Solar rebates in Australia Large-scale Renewable

178、Energy Target The Large-scale Renewable Energy Target(LRET)incentivises the development of renewable energy power stations in Australia through a Renewable Energy Certificate Market for the creation and sale of certificates called large-scale generation certificates(LGCs).Clean Energy Regulator Smal

179、l-scale Renewable Energy Scheme Incentivises small-scale renewable energy systems through legislated demand for small-scale technology certificates(STCs).The STCs act as a discount offered to small energy consumers to install RE systems such as solar water heaters and solar PV.Clean Energy Regulator

180、 Snowy 2.0 Sponsoring and commissioning of a 2GW pumped hydro facility in 2027 by the federal government.Snowy Hydro Climate Active Certification is awarded to Australian businesses that meet the requirements to achieve net zero carbon emissions.Climate Active 16 Energy policy Details Reference Lidd

181、ell Taskforce Will advise government whether sufficient dispatchable capacity has been built to make up for the closure of the Liddell power plant in 2023.Department of Climate Change,Energy,the Environment and Water Retailer Reliability Obligation(RRO)If gaps are forecast between energy demand and

182、supply,the Australian Energy Market Operator will compel energy retailers to contract additional generation.Department of Climate Change,Energy,the Environment and Water Regional Australia Microgrid Pilots Program An AUD 50 million six-year program that aims to improve the resilience and reliability

183、 of power supply for regional and remote communities.Administered by ARENA.ARENA GEMS program The Greenhouse and Energy Minimum Standards Act 2012(GEMS Act)provides for Greenhouse and Energy Minimum Standards for specific types of products before they can be supplied in Australia.GEMS Determinations

184、 Commercial Buildings Disclosure The Commercial Building Disclosure(CBD)program requires energy efficiency information to be provided in most cases when commercial office space of 1000 square metres or more is offered for sale or lease.Commercial Building Disclosure National Electric Vehicle Strateg

185、y Launched in April 2023,provides a domestically agreed framework to make Australia a globally competitive market for electric vehicles.energy.gov.au Electric Vehicle policies Australian states and territories have multiple targets for EV sales,EV rebates,support for EV charging infrastructure,and o

186、ther such policies that aim to support electrification of transport.Department of Climate Change,Energy,the Environment and Water National Energy Productivity Plan 20152030 Provides a framework and an economy-wide work plan of new and existing measures designed to coordinate efforts and accelerate i

187、mprovement to deliver a 40%improvement in Australias energy productivity.Department of Climate Change,Energy,the Environment and Water 17 Notable Energy Developments Notable development Details Reference Climate change and energy transformation The Australian Government announced a budget of AUD 24.

188、9 billion in October 2022,which includes the Powering Australia Plan.Energy Minister press release Community Batteries for Household Solar The Community Batteries for Household Solar program will install 400 batteries across Australia.This will provide shared storage for up to 100 000 households.The

189、 batteries will store excess solar energy for families and households to use during peak times.Department of Climate Change,Energy,the Environment and Water National Energy Performance Strategy Framework to deliver the energy efficiency savings required to meet the governments 2030 and 2050 emission

190、s reduction targets.Department of Climate Change,Energy,the Environment and Water National Energy Transformation Partnership On 12 August 2022,federal,state and territory Energy Ministers agreed to establish a new National Energy Transformation Partnership.The Partnership is a framework for domestic

191、 alignment and cooperative action by governments to support the smooth transformation of Australias energy sector.energy.gov.au Gas Code of Conduct The Australian Government has implemented a mandatory Gas Code of Conduct,as part of the Energy Price Relief Plan announced in December 2022,to ensure t

192、hat east coast gas users can contract for gas at reasonable prices and on reasonable terms.energy.gov.au Expansion of the Capacity Investment Scheme On 23 November 2023,the Australian Government announced anexpansion of the Capacity Investment Schemeto target a total of 32 GW of new capacity,made up

193、 of:23 GW of renewable capacity representing AUD 52 billion in investment 9 GW of clean dispatchable capacity representing AUD 15 billion in investment(an additional 7.9 GW to the 1.1 GW already in progress through the first stage of the CIS).Department of Climate Change,Energy,the Environment and W

194、ater Solar Sunshot The Australian Government is investing AUD 1 billion in the Solar Sunshot program to supercharge Australias ambition to become a renewable energy super power at home and abroad.Solar Sunshot will help Australia capture more of the global solar manufacturing supply chain through su

195、pport,including production subsidies and grants.Australian Renewable Energy Agency Hydrogen Headstart The Australian Government will invest AUD 2.0 billion in the new Hydrogen Headstart program,providing revenue support for large-scale renewable hydrogen projects through competitive hydrogen product

196、ion contracts.The program will put Australia on course for up to a gigawatt of electrolyser capacity by 2030.Department of Climate Change,Energy,the Environment and Water 18 Notable development Details Reference Powering Net Zero Industries AUD 2 billion Hydrogen Headstart.Critical minerals to drive

197、 clean energy technologies.Support growing demand for batteries.Explore CCUS or CCS.Reforming Safeguard Mechanism.Transparency and integrity through Annual Climate Change Statement.Budget.gov.au Just energy transition Encouraging Australians to consider a career in the clean energy sector.New Energy

198、 Apprenticeships Program.National Skills Agreement.Equal by 30 is building gender equity across clean energy sector.National Net Zero Authority.Working with and learning from First Nations people to manage climate crisis adaptation.Powering Australia Useful Links Australian Bureau of Statistics http

199、s:/www.abs.gov.au/Australian Competition and Consumer Commission https:/www.accc.gov.au/Australian Energy Market Commission https:/www.aemc.gov.au/Australian Energy Market Operator https:/.au/Australian Energy Regulator https:/www.aer.gov.au/Australian Renewable Energy Agency https:/arena.gov.au/Cle

200、an Energy Finance Corporation https:/.au/Clean Energy Regulator http:/www.cleanenergyregulator.gov.au/Department of Climate Change,Energy,the Environment and Water https:/www.dcceew.gov.au/Department of Industry,Science and Resources https:/www.industry.gov.au/Energy.gov.au https:/www.energy.gov.au/

201、19 References Australian Competition and Consumer Commission(2024),Gas inquiry 20172030,https:/www.accc.gov.au/inquiries-and-consultations/gas-inquiry-2017-30 Australian Energy Market Operator(2022),Appendix 3.Renewable energy zones,Appendix to 2022 ISP for the National Electricity Market,https:/.au

202、/-/media/files/major-publications/isp/2022/2022-documents/a3-renewable-energy-zones.pdf?la=en Australian Energy Market Operator(2024),Data(NEM),https:/.au/energy-systems/electricity/national-electricity-market-nem/data-nem Australia Energy Statistics(2024),Energy data,https:/www.energy.gov.au/energy

203、-data/australian-energy-statistics Australian Petroleum Statistics(2024),https:/www.energy.gov.au/energy-data/australian-petroleum-statistics Australian Renewable Energy Agency(2024),Solar Sunshot,https:/arena.gov.au/funding/solar-sunshot/Energy Institute(2023),Statistical Review of World Energy 202

204、3,https:/www.energyinst.org/statistical-review Department of Climate Change,Energy,the Environment and Water(2024)Powering Australia,https:/www.dcceew.gov.au/energy/strategies-and-frameworks/powering-australia Department of Industry,Science and Resources(2023)Critical Minerals Strategy 20232030,http

205、s:/www.industry.gov.au/publications/critical-minerals-strategy-2023-2030 Department of Industry,Science and Resources(2023),Resources and Energy Quarterly.https:/www.industry.gov.au/publications/resources-and-energy-quarterly Economic Society of Australia(2022),Leading economists back Federal Govern

206、ment action to curb rising gas and electricity prices(poll 57),https:/esacentral.org.au/polls-item/48855/leading-economists-back-federal-government-action-to-curb-rising-gas-and-electricity-prices/?type_fr=902 Prime Minister of Australia(2023),National Net Zero Authority media release,https:/www.pm.

207、gov.au/media/national-net-zero-authority Rewiring the Nation(2023),Rewiring the Nation supports its first two transmission projects,https:/www.energy.gov.au/news-media/news/rewiring-nation-supports-its-first-two-transmission-projects S&P Global(2023),Western Australia govt updates WA Domestic Gas Po

208、licy,limiting LNG exports,https:/ 20 The Department of the Treasury(2023),2023 Intergenerational Report,https:/treasury.gov.au/publication/2023-intergenerational-report World Nuclear Association(2023),World Uranium Mining Production,https:/world-nuclear.org/information-library/nuclear-fuel-cycle/min

209、ing-of-uranium/world-uranium-mining-production.aspx 21 Brunei Darussalam Introduction Brunei Darussalam has been a net energy exporting economy due to an abundance of oil and gas.These commodities accounted for 52%of Brunei Darussalams total GDP of USD 26.8 billion in 2021 and more than 80%of the ov

210、erall government revenue in the same year.This has generated a high per capita GDP of USD 60 127,enabling the government to provide a comfortable quality of life for the citizens through subsidised education,healthcare,housing and fuels,among other services.In 2021,most of the crude oil and petroleu

211、m products were exported to several APEC economies,notably Australia and Singapore,while LNG volumes were mainly shipped to China;Japan;Korea;Malaysia and others.Brunei Darussalam aims to achieve a 20%reduction in its greenhouse gas(GHG)emissions from business-as-usual levels in 2030 in their update

212、d Nationally Determined Contributions(NDC).To further enhance Brunei Darussalams climate ambitions,the economy pledged to achieve net zero emissions in 2050 as per the announcement in COP26 in Glasgow,United Kingdom.The Brunei National Climate Change Policy(BNCCP)serves as the foundation for achievi

213、ng the economys NDC target,outlining key strategies to reduce emissions across the energy sector in principle,in addition to strengthening carbon sequestration in the forestry sector and enhancing climate adaptation.The Brunei Darussalam National Council on Climate Change(BNCCC)launched a directive

214、on the mandatory reporting of GHG emissions in 2023.Through this directive,all emitting facilities,including government departments and private sector companies,are required to report their quarterly and annual emissions,in line with the BNCCP objectives.Brunei Darussalam is a signatory to the Globa

215、l Coal to Clean Power Transition Statement,which was announced during COP26.The economy is committed to transition away from unabated coal-fired power generation,through rapid deployment of clean power generation and energy efficiency measures,ceasing issuance of new permits for construction of unab

216、ated coal-fired power generation projects.Table 1:Brunei Darussalams macroeconomic data and energy reserves Key data a,b Energy reserves c Area(km2)5 765 Oil(billion barrels)1.1 Population(million)0.45 Gas(trillion cubic feet)7.9 GDP(2017 USD billion PPP)26.8 Coal(million tonnes)0 GDP per capita(201

217、7 USD PPP)60 127 Uranium(kilotonnes U USD 130/kgU)0 Source:a MOFE(2023);b World Bank(2023);c EI(2023).Note:Reserves are total proved reserves and reasonably assured recoverable resources for uranium.22 Energy Supply and Consumption Total primary energy supply Brunei Darussalams energy supply in 2021

218、 amounted to almost 195 PJ a significant increase of 27%from 2020 levels(Figure 1).This is driven primarily by imports of crude oil to meet the domestic refinery requirements.Consequently,the net import grew by almost 15%during the same period.Increased imports of coal from Indonesia were also influ

219、ential in the growth of the economys net imports.Generally,indigenous upstream production has been on the downward trend since 2000.Total production in 2021 stood at almost 598 PJ,down by 6.6%in the previous year,attributed to maturing oil and gas fields in shallow waters.Figure 1:Brunei Darussalams

220、 energy supply,production,and net imports(PJ),2000 to 2021 Source:EGEDA(2023)The energy supply in Brunei Darussalam has been gas-centric for more than two decades,serving as fuel and feedstock in the power and non-energy sectors,respectively.In 2021,gas accounted for 56%of Brunei Darussalams energy

221、supply,while coal and oil made up the remaining 15%and 29%respectively.Renewables supply remained negligible(Figure 2).Figure 2:Brunei Darussalams energy supply by fuel(PJ),2000 to 2021 Source:EGEDA(2023)With respect to APEC energy supply mix(Figure 3),Brunei Darussalam remained well above APEC in t

222、erms of gas share in 2021,given its monopoly in the economys power sector.Oil shares were nearly identical to each other,while the coal share was significantly below that of APEC as coal utilisation is only in the domestic refinery.ProductionNet importsTotal Primary Energy Supply-1 000-800-600-400-2

223、00 0 200 400 600 8001 0001 20020002005201020152020 0 50 100 150 200 2502000200120022003200420052006200720082009201020112012201320142015201620172018201920202021TPES by fuel(PJ)CoalOilGasRenewablesOthers 23 Figure 3:Energy supply mix Brunei Darussalam and APEC,2020 Source:EGEDA(2023)Total final consum

224、ption Brunei Darussalam recorded a decline of almost 3%in its final consumption in 2021 relative to 2020 levels(Figure 4).Demand growth in the industry,commercial and residential sectors were not enough to offset the declines of more than 6%and 11%in the transport and non-energy sectors,respectively

225、.The Delta variant-driven resurgence of COVID-19 infections forced the government to impose partial lockdowns across the economy,which partially drove the decline in the transport sector.The decline in non-energy consumption was due to a decrease in the consumption of lubricants and bitumen in the i

226、ndustry sector.Figure 4:Brunei Darussalam final consumption by sector(PJ),2000 to 2021 Source:EGEDA(2023)Compared to the APEC region(Figure 5),Brunei Darussalams share of the transport sector was substantially higher than that of APEC,owing to the economys high private vehicles ownership and limited

227、 public transport use.Given the high dependency on oil and gas industry,Brunei Darussalams share of the industry sector was smaller than that in APEC.The share of the commercial sector in the economy was higher than that in APEC,while the residential sector shares in both Brunei Darussalam and APEC

228、were identical to each other.The shares of both agriculture&others and non-energy sectors in Brunei Darussalam were well below those of APEC,given negligible demands in both sectors.CoalOilGasRenewablesOther0%20%40%60%80%100%Brunei DarussalamAPEC 0 5 10 15 20 25 30 35 40 4520002001200220032004200520

229、06200720082009201020112012201320142015201620172018201920202021Final energy demand by sector(PJ)IndustryTransportCommercialResidentialAgriculture&othersNon-energy 24 Figure 5:Final consumption by sector,Brunei Darussalam and APEC,2021 Source:EGEDA(2023)Final energy demand There was a modest growth of

230、 almost 3%in electricity demand in 2021 from 2020 levels,in line with the sectoral demand growth in industry,residential and commercial sectors.On the other hand,oil demand declined by almost 7%between the same period,attributed largely to a decline in transport sector activity as mentioned earlier.

231、Meanwhile,demand for gas remained stable between 2020 and 2021(Figure 6).Figure 6:Brunei Darussalam final energy demand by fuel(PJ),2000 to 2021 Source:EGEDA(2023)Note:Does not include non-energy sector consumption of energy products.Brunei Darussalams final energy demand mix was largely electricity

232、 and oil based in 2021,hence the shares of both fuels were well above those of APEC(Figure 7).The electricity share was high because of the substantial electrification rate in the economy as well as high electricity usage per capita.The oil share was high because of the dominance of gasoline and die

233、sel-powered vehicles usage,in addition to low fuel prices.Direct gas usage in Brunei Darussalam is very small,owing to a limited number of households that are directly connected to the gas supply via pipelines,as most households in the economy are utilising LPG cylinders for cooking purposes.Industr

234、yTransportCommercialResidentialAgriculture&othersNon-energy0%20%40%60%80%100%Brunei DarussalamAPEC 0 5 10 15 20 25 30 35 40 452000200120022003200420052006200720082009201020112012201320142015201620172018201920202021CoalOilGasRenewablesElectricity and others 25 Figure 7:Final energy demand fuel share,

235、Brunei Darussalam and APEC,2021 Source:EGEDA(2023)Transformation Power sector Brunei Darussalam produced more than 5.6 TWh(20 PJ)of electricity in 2021,a slight decline of 0.6%from the previous year(Figure 8).Gas remained the main source of fuel for the electricity generation in the economy,accounti

236、ng for 77%of the total electricity output.On an annual basis,gas input for the electricity generation declined by 1.2%between 2020 and 2021.Electricity generation from oil(diesel)constituted only 1%of the total,given that it only supplied a small population in the Temburong District.Looking at yearl

237、y growth,diesel input for the electricity generation fell by almost 9%from 2020 levels.Coal-fired electricity generation,which is exclusive for Hengyi Industries refinery and petrochemical complex,contributed about 22%of the total output in 2021,equivalent to about 1.2 TWh(4 PJ).On an annual basis,c

238、oal input grew by 1.3%in 2021 from 2020 levels.Figure 8:Brunei Darussalams electricity generation by fuel(TWh),2000 to 2021 Source:EGEDA(2023)The dominance of gas in Brunei Darussalams electricity generation mix in 2021 means that the economys gas share is placed well above APECs share.On the other

239、hand,the share of coal-fired electricity generation was significantly lower than APECs share,given that coal-fired electricity generation is only within the refinery and petrochemical complex,i.e.,not connected to the public grid.CoalOilGasRenewablesElectricity and others0%20%40%60%80%100%Brunei Dar

240、ussalamAPEC 0 1 2 3 4 5 6 72000200120022003200420052006200720082009201020112012201320142015201620172018201920202021CoalOilGasHydroNuclearGeothermalOther renewablesOthers 26 Figure 9:Electricity generation fuel share,Brunei Darussalam and APEC,2021 Source:EGEDA(2023)Refining Brunei Darussalam current

241、ly houses the first phase of the Hengyi refinery and petrochemical complex,located in Pulau Muara Besar(PMB).The integrated complex is capable of refining about 175 000 barrels of crude oil per day.Given its huge capacity,more than half of the crude oil input to the complex is procured from abroad,w

242、ith domestic crude accounting for the remainder of the input.As of 2021,crude oil input to the complex stood at almost 370 PJ,up 6%from the previous year.To put that into perspective,the annual oil demand in Brunei was about 20 PJ.Energy Transition Emissions CO2 emissions in Brunei Darussalam reache

243、d more than 12 million tonnes in 2021,an increase of almost 5%from 2020 levels(Figure 10).This is attributed to increased coal input for electricity generation within the refinery and petrochemical complex,despite declines in the gas-fired electricity generation as well as the transport sector betwe

244、en the same period.Figure 10:Brunei Darussalam CO2 combustion emissions(million tonnes),2000 to 2021 Source:EGEDA(2023)Energy security Brunei Darussalam is a net energy exporter,given its abundance of oil and gas resources in its disposal.That said,energy self-sufficiency has CoalOilGasHydroNuclearG

245、eothermalOther renewablesOthers0%20%40%60%80%100%Brunei DarussalamAPECCO2combustion emissions 280 290 300 310 320 330 340 350 360 370 380 39020002005201020152020 27 been on a downward trend for more than two decades,largely due to declining domestic oil and gas production.However,the low domestic en

246、ergy demand still ensured Brunei Darussalams supply to be more than sufficient.In 2021,self-sufficiency stood at 307%,well above the threshold of the self-sufficiency indicator.APEC Energy Goals There are two energy-related objectives that APEC member economies have agreed to meet as a collective:to

247、 improve energy intensity and to double the share of modern renewables.Energy intensity goal In 2011,APEC member economies agreed to increase their ambition to reduce energy intensity by 45%in 2035,relative to a 2005 baseline.The original goal was a 25%improvement by 2030,relative to a 2005 baseline

248、.APEC is on track to achieve this energy intensity improvement.The goal does not impose individual economy targets,but it is possible to track the progress of individual APEC economies relative to the overarching proportional improvement.Brunei Darussalams energy intensity has seen an increasing tre

249、nd since 2005,given that the rate of increase of total final energy consumption is greater than the increase rate of the economys GDP.As of 2021,energy intensity declined by 1%from 2020 levels,given the decline in the economys energy consumption(Figure 11).Figure 11:Brunei Darussalams total final en

250、ergy consumption intensity index,2000 to 2021(2005=100)Source:EGEDA(2023)Doubling of renewables The second energy goal involves doubling the share of modern renewables in the APEC energy mix for the period 2010 to 2030.There is no economy-level goal for individual member economies,but improvements b

251、y individual economies will contribute to the doubling goal.Total final energy consumption energy intensityAPEC-wide goal 203502040608010012014016020002005201020152020202520302035 28 Figure 12:Brunei modern renewable energy share,2010 and 2021 Source:EGEDA(2023)Note:Biomass used in the residential a

252、nd commercial sectors is assumed to be traditional biomass and is not included in the definition of modern renewables.All other renewables(biomass used by industry,hydro,geothermal,etc.)are considered modern renewables.Modern renewables also include the share of electricity that is generated from re

253、newable sources.Given the predominance of natural gas in Bruneis electricity generation mix,the share of modern renewables is still negligible(0.03%in 2021).To reduce the dependence on natural gas in the economys power sector,Brunei is planning to expand its renewables share by installing 200 MW of

254、large-scale solar photovoltaic(PV)plants in 2025,and further increasing this to 300 MW in 2035.Currently Brunei has about 4.5 MW of solar PV capacity.Figure 13:Brunei Darussalams renewable generation share,2000 to 2021 Source:EGEDA(2023)Change from 2010 to 20210.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%201

255、0Change2021Renewables share in electricity mix0.00%0.01%0.02%0.03%0.04%0.05%0.06%0.07%0.08%0.09%20002005201020152020APEC ENERGY OVERVIEW 2024 29 Energy Policy Energy policy Details Reference Nationally Determined Contributions A 20%reduction of GHG emissions relative to business-as-usual levels by 2

256、030.UNFCCC(2020)Brunei Darussalam National Climate Change Policy The policy was established to pave the way for Bruneis low-carbon and climate-resilient pathways for a sustainable economy,through adoption of 10 key strategies:industrial emissions,forest cover,electric vehicles,renewable energy,power

257、 management,carbon pricing,waste management,climate resilience&adaptation,carbon inventory,awareness&education.BCCS(2020)Net Zero Emissions Brunei is moving towards net-zero emissions by 2050,announced at UNFCCC COP26 in Glasgow,Scotland,United Kingdom.UNFCCC(2021)Energy Efficiency(Standards and Lab

258、elling)Order,2021 The Department of Energy at the Prime Ministers Office introduced the Order in 2021,in line with its energy efficiency and conservation initiatives.The Order requires manufacturers,suppliers,wholesalers and retailers in Brunei to import and sell appliances that meet the minimum ene

259、rgy performance standards.Department of Energy,Prime Ministers Office(2022)Directive on the Mandatory Reporting of Greenhouse Gas Beginning 2023,all facilities that emit GHG emissions are required to report their GHG emissions on a quarterly and annual basis,in line with the objective of Strategy 9

260、of the BNCCP(Carbon Inventory).BCCS(2023)APEC ENERGY OVERVIEW 2024 30 Notable Energy Developments Energy development Details Reference Kampung Belimbing Subok Solar PV Project The 30 MW Solar PV plant in Kampong Belimbing Subok is set to be operational in 2025.Department of Councils of State(2024)He

261、ngyi Industries Refinery and Petrochemical Complex Phase 2 Phase 2 of the Hengyi Industries Refinery and Petrochemical Complex is set to commence operation in 2029.Department of Councils of State(2024)LPG inventory Economy-wide minimum stock for LPG will be increased from 7 days to 14 days beginning

262、 2024.Department of Councils of State(2024)Bukit Panggal Gas-fired Power Plant Phase 2 Phase 2 of combined-cycle gas power plant in Bukit Panggal is set to be operational in 2027.Department of Councils of State(2024)Useful Links Brunei Climate Change Secretariat https:/climatechange.gov.bn Brunei Sh

263、ell Petroleum https:/.bn/Brunei LNG https:/ of Economic Planning and Statistics,Ministry of Finance and Economy https:/deps.mofe.gov.bn Department of Energy,Prime Ministers Office https:/www.energy.gov.bn/Hengyi Industries https:/www.hengyi- ENERGY OVERVIEW 2024 31 Canada Introduction Several climat

264、e policies and regulatory updates were released in 2023,steering and tracking Canadas progress to reaching its emissions reduction targets of 40%-45%below 2005 levels by 2030 en route to net zero emissions by 2050.Given that approximately 80%of Canadas greenhouse gas(GHG)emissions stem from energy-r

265、elated activities,climate policies targeting emissions reductions inherently affect Canadas energy system(CER,2023a).Canada is home to a diverse energy landscape,influenced by varied geography,climate,and economic drivers.This diversity necessitates a tailored approach to energy generation among its

266、 provinces and territories.In Canadas oil-producing regions,the sector experienced a resilient rebound following COVID-19,marked by an increase in oil production from 2020 to 2021,a trend continuing into 2022 and 2023(CER,2023b).Simultaneously,strides were taken to maintain and increase capacity of

267、non-emitting energy sources such as nuclear,solar and wind(CanREA,2024;CNSC,2023;NRCan,2023a;ON Gov,2023).Across Canada,discussions about clean electricity gained momentum with the publication of draft Clean Electricity Regulations(ECCC,2023a).In 2021,Canada released its 2030 Emissions Reduction Pla

268、n.This past year,in fulfilment of a legal requirement under the Canadian Net-Zero Emissions Accountability Act,Canada released its 2023 Progress Report on the 2030 Emissions Reduction Plan(ECCC,2023b;Justice Canada,2023).The progress report provides an overview of current decarbonisation efforts and

269、 outlines additional policies that will help Canada reach its climate goals.Nonetheless,challenges persist in achieving Canadas decarbonisation targets.Uncertainty surrounding climate policies,specifically in light of the federal decision to temporarily pause the carbon price on deliveries of heatin

270、g oil,as well as debates regarding timelines,methods and cost-bearing to achieve Canadas emissions reduction goals remain at the forefront.Table 1:Canada macroeconomic data and energy reserves Key data a,b Energy reserves c,d Area(million km2)10 Oil(billion barrels)168 Population(million)38 Gas(tril

271、lion cubic feet)83 GDP(2017 USD billion PPP)1 843 Coal(million tonnes)6 582 GDP per capita(2017 USD PPP)48 218 Uranium(kilotonnes U USD 130/kgU)490 Source:a StatCan(2018);b World Bank(2022);c Energy Institute(2023);d NEA(2023)Note:Reserves are total proved reserves and reasonably assured recoverable

272、 resources for uranium.Table 1 outlines key data and energy reserves in Canada for 2021.Canadas economic output rebounded following the COVID-19 pandemic.GDP increased 5.0%in 2021 to USD 1 843 billion(2017 USD purchasing power parity PPP),and income increased 4.4%to USD 48 218.APEC ENERGY OVERVIEW 2

273、024 32 Energy Supply and Consumption Total primary energy supply Canada is a self-sufficient and leading producer of energy,with much of its production driven by demand in global markets.Canada is a top-five producer of crude oil,gas,hydro and uranium,and a top-six exporter of crude oil,natural gas,

274、uranium and electricity.As such,the energy sector is an important contributor to Canadas economy,directly and indirectly accounting for 11.8%of GDP.Of that,7.2%is directly from petroleum and 1.7%directly from electricity(NRCan,2023b).With 90%of its energy exports landing in the US,Canada is trying t

275、o diversify its export market.The first phase of LNG Canada is to become its first large-scale LNG export facility by mid-decade,and the Trans Mountain expansion,which will increase oil export capacity by 590 000 barrels per day,began commercial operations in May 2024(LNG Canada,2023;Trans Mountain,

276、2024).Both projects will provide a strategic source of energy supply for APEC members.Although Canadas crude oil sources vary geographically,oil predominantly comes from Western Canada.Almost two-thirds of the total production comes from the oil sands,while conventional,offshore and tight oil produc

277、tion comprise the remainder(CER,2023b).Over 99%of natural gas production occurs in Western Canada(CER,2023c).While the output from conventional resources is declining,advances in hydraulic fracturing have enabled the development of tight gas resources in the Montney Formation and the Alberta Deep Ba

278、sin.Production from these basins is expected to dominate any future production and LNG exports in the coming decades,dictated largely by domestic energy policy,gas prices and global demand.After decreasing in 2020,energy production increased 3.9%to a record high of 22 572 petajoules(PJ)in 2021 as pr

279、ices increased following a collapse caused by COVID-19(EGEDA,2023).Fossil fuels continue to dominate production with a share over 85%(StatCan,2022).Oil production is currently setting new highs,at around 5 million barrels per day(NRCan,2023b).While the production impacts of COVID-19 were swift,Canad

280、as oil production proved resilient compared to other producers.Figure 1:Canada energy supply,production,and net imports(PJ),2000 to 2021 Source:EGEDA(2023)Net imports decreased 9.2%from 2020 to 2021,as oil and gas exports increased,following increased production,coupled with a decrease in crude oil

281、imports.Crude oil imports alone decreased by nearly 20%from 2020 to 2021 as interprovincial crude oil shipments from Western Canada to Ontario and Quebec increased,causing Ontario and Quebec to rely less on imports from the US(CER,2022).Gas imports remained relatively stable.ProductionNet importsTot

282、al Primary Energy Supply-15 000-10 000-5 000 05 00010 00015 00020 00025 00020002005201020152020Production,net imports and TPES(PJ)APEC ENERGY OVERVIEW 2024 33 Figure 2:Canada energy supply by fuel(PJ),2000 to 2021 Source:EGEDA(2023)Figures 2 and 3 illustrate how dominant fossil fuels continue to be

283、in Canadas energy mix.While coal has been steadily declining over the past two decades,oil and gas persist as predominant fuel sources in Canadas energy mix,making up more than 50%of each provincial or territorial energy supply in all regions except Quebec,where it comprised just under 50%in 2021(CE

284、R,2023d).Quebec is uniquely positioned to capitalise on hydroelectricity due to its extensive,existing hydropower resources.Canada has significant renewable potential and continues to realise more of its potential with deployment of solar and wind generating capacity leading the way across the econo

285、my.Figure 3:Energy supply mix Canada and APEC,2021 Source:EGEDA(2023)Hydro is currently the most prominent source of renewable energy in Canada,supplying 60%of Canadas electricity in 2021 from an installed capacity of more than 82 GW(CER,2023d).Around 14%of Canadas total electricity is provided by n

286、uclear energy,through an installed capacity of more than 13 MW(WNA,2024).Hydro is also a key fuel source for Canadas electricity exports,making up more than 85%of electricity generation in three of the four provinces with the largest exports of electricity to the USA(CER,2023e;CER,2023f).In the rema

287、ining province,nuclear is the dominant electricity source at about 55%,while hydro generates approximately one quarter of the total generation.Canada aims to leverage non-emitting electricity capacity to decarbonise its oil,natural gas and LNG operations,driving down own-use emissions to align with

288、its commitment to achieve net zero emissions by 2050.Some oil sands majors have expressed 02 0004 0006 0008 00010 00012 00014 0002000200120022003200420052006200720082009201020112012201320142015201620172018201920202021TPES by fuel(PJ)CoalOilGasRenewablesOthersCoalOilGasRenewablesOther0%20%40%60%80%10

289、0%CanadaAPECAPEC ENERGY OVERVIEW 2024 34 particular interest in the deployment of small modular reactors(SMRs)as a clean electricity source to decarbonise operations through electrification in the coming decade(Pathways Alliance,2023).Total final consumption Canadas total final consumption increased

290、 3.2%from 2020 to reach 8 002 PJ in 2021(EGEDA,2023).This positions Canada as the fifth-largest energy consumer in APEC,after China;the USA;Russia;and Japan.Despite an increase in total final consumption from 2020 to 2021,the value for 2021 remains the lowest recorded since 2013,other than 2020.Figu

291、re 4:Canada final consumption by sector(PJ),2000 to 2021 Source:EGEDA(2023)The transport,industry,non-energy use and agriculture sectors all experienced increases in total final consumption from 2020 to 2021.The transport sector once again accounted for the largest share of final energy consumption(

292、2 360 PJ),followed by the industrial sector(1 918 PJ).Non-energy use comprised 964 PJ and agriculture and non-specified others made up 290 PJ.These increases can likely be attributed to increases in activity following COVID-19 lockdowns that persisted through most of 2020.The residential and commerc

293、ial sectors underwent decreases in final consumption from 2020 to 2021,with 2021 demand at 1 334 PJ(a 1.9%decrease)and 1 136 PJ(a 1.1%decrease)respectively.Figure 5:Final consumption by sector,Canada and APEC,2021 Source:EGEDA(2023)Final energy demand Canadas final energy demand paralleled total fin

294、al consumption,increasing 2.8%to 7 038 PJ in 2021(EGEDA,2023).Increased oil demand(4.4%)contributed the most to this increase,which could be 01 0002 0003 0004 0005 0006 0007 0008 0009 0002000200120022003200420052006200720082009201020112012201320142015201620172018201920202021Final energy demand by se

295、ctor(PJ)IndustryTransportCommercialResidentialAgriculture&othersNon-energyIndustryTransportCommercialResidentialAgriculture&othersNon-energy0%20%40%60%80%100%CanadaAPECAPEC ENERGY OVERVIEW 2024 35 attributed to a resurgence in travel post-COVID-19 leading to a rise in the use of oil products.Natural

296、 gas saw a modest increase of 1.8%,while renewables experienced the most significant increase with a 4.8%increase in demand,driven by an expansion of installed capacity.Overall,final energy demand remained low compared to pre-COVID-19.This was likely influenced by continued restrictions and shifts i

297、n consumer behaviour,including the widespread adoption of remote and hybrid work that persisted into 2021.Figure 6:Canada final energy demand by fuel(PJ),2000 to 2021 Source:EGEDA(2023)Note:Does not include non-energy sector consumption of energy products.In 2021,fossil fuels accounted for two-third

298、s of final energy demand1,comprising oil(2 635 PJ,37%),gas(2 000 PJ,28%),and coal(85 PJ,1 Note that the demands in the EGEDA energy balance differ than those in the Report on Energy Supply and Demand(RESD)energy balances due to 1.2%)(EGEDA,2023).The remainder was formed by the share of renewables(39

299、9 PJ,5.7%)and electricity and others(1 918 PJ,27%),of which the share of renewable electricity and others was 1 278 PJ.Although coal makes up less of Canadas fuel mix than the APEC region,Canada relies more on fossil fuels.Figure 7:Final energy demand fuel share,Canada and APEC,2021 Source:EGEDA(202

300、3)Transformation Power sector Canada generated 643 terawatt-hours(TWh)of electricity in 2021,a decrease of 1.4%from the previous year.Non-emitting electricity differences in energy accounting frameworks(StatCan,2023a).01 0002 0003 0004 0005 0006 0007 0008 00020002001200220032004200520062007200820092

301、01020112012201320142015201620172018201920202021Final energy demand by fuel(PJ)CoalOilGasRenewablesElectricity and othersCoalOilGasRenewablesElectricity and others0%20%40%60%80%100%CanadaAPECAPEC ENERGY OVERVIEW 2024 36 generation constituted the largest share of this generation(82%),with hydro as th

302、e major contributor at 60%followed by nuclear at 14%.While the contribution from hydro decreased a similar percentage as total electricity generation,nuclear decreased 5%from 2020 to 2021.This decrease in nuclear was likely influenced by a decrease in production in Ontario,which generates approximat

303、ely 55%of its electricity using nuclear(CER,2023d;IESO,2024).Figure 8:Canada electricity generation by fuel,2000 to 2021 Source:EGEDA(2023)Fossil generation accounted for 18%of total power generation.The proportion of power generated from coal continued its downward trajectory,dropping to 5.3%as Can

304、ada advances in its efforts to phase out coal-fired power plants.Natural gas-fired generation continued as the primary fossil generation source,reaching 12%of total power generation in 2021.In 2016,the federal government announced its plan to phase out coal-fired electricity generation in Canada by

305、2030.As of 2023,Alberta,Saskatchewan,New Brunswick,and Nova Scotia maintained some electricity supply through coal-fired generation.Nova Scotia relied most heavily on the source,where coal and coke provided more than 45%of electricity in 2023(CER,2023d).Alberta has committed to phase out coal-fired

306、electricity in 2024,and the remaining three provinces have aligned with the federal timeline of 2030.Ontario is supporting the refurbishment of 14 nuclear reactor units(ON Gov,2023a;ON Gov 2023b).These refurbishments will add approximately 25-30 years to the operational life of each unit and allow O

307、ntario to maintain a dependable source of clean electricity.The Government of Alberta enacted a temporary pause on all approvals of renewable energy projects greater than 1 MW from August 2023 to February 2024(AB Gov,2023a).The pause was initiated for the Alberta Utilities Commission to conduct an a

308、ssessment on land use and reclamation.The pause on approvals came at a time of high renewable energy development in the province Alberta accounted for more than 90%of Canadas overall growth in renewables in 2023(CanREA,2024).Following the pause,the Government of Alberta unveiled plans for new rules

309、surrounding renewables development.These include a requirement to demonstrate ability for both crops and/or livestock to coexist with renewable generation on certain classes of agricultural land,and a minimum 35 kilometre buffer zone around protected areas and pristine viewscapes,as designated by th

310、e province,where wind projects are prohibited(AB Gov,2024).The impact of these rules on renewables investment remains uncertain,and its effects may not be fully realised until 2025 or beyond.Canadas variable renewable capacity continues to grow in general.In 2022,Canadas added more than 1.8 GW of ne

311、w renewable generation 0 100 200 300 400 500 600 7002000200120022003200420052006200720082009201020112012201320142015201620172018201920202021Electricity generation(TWh)CoalOilGasHydroNuclearGeothermalOther renewablesOthersAPEC ENERGY OVERVIEW 2024 37 capacity,and despite increasing interest rates,add

312、ed another 2.3 GW of installed capacity in 2023(CanREA,2023).The installed capacity of major grid-connected solar and wind hit 20 GW in 2023(CanREA,2023).Policy support stemming from the proposed Clean Electricity Regulations,a 2035 target of 100%net zero power,the Clean Electricity Investment Tax C

313、redit,and higher carbon prices,among other incentives,will likely drive renewable deployment higher this decade.Figure 9:Electricity generation fuel share,Canada and APEC,2021 Source:EGEDA(2023)Canadas water resources enable significant parts of its economy to rely on clean electricity and provide c

314、lean electricity export options to several states in the US.The electricity networks of Canada and the US are highly integrated.In 2021,electricity exports to the US decreased to 217 PJ and imports increased to 47 PJ(StatCan,2023b).The bulk of Canadas electricity trade with the US occurs between the

315、 provinces of Quebec,Ontario,Manitoba and British Columbia and their neighbouring American states.While new international power lines could increase electricity trade between the two economies,opposition to the construction of new transmission lines is challenging growth.Refining As of May 2023,ther

316、e were seven existing or planned renewable diesel facilities in Canada,with several having been repurposed from existing petroleum refineries(CER,2023g).The main driver of these facilities is Canadas Clean Fuel Regulations,for which compliance obligation began in July 2023,that require liquid fuel s

317、uppliers to gradually decrease carbon intensity.These renewable diesel facilities would add up to 70 thousand barrels per day by 2027,up from zero in 2020.Energy Transition Canada released its 2023 Progress Report on the 2030 Emissions Reduction Plan,which suggests that Canada is on track to reach a

318、 36%reduction in emissions by 2030(ECCC,2023b).This narrowly falls short of the targeted 40%-45%reduction.This projection does not include emissions reductions from policies that are expected but lack sufficient publicly available details,such as any that may be outlined in the forthcoming Canada Gr

319、een Buildings Strategy and the oil and gas sector emissions cap that is under development.The progress report underscores the importance of collaborative efforts required from both the federal and provincial/territorial governments in Canada.Strengthening existing measures or introducing new ones wi

320、ll be necessary to close the gap between the projected reduction in the progress report and targeted reduction by 2030.The largest reductions are intended to come from key sectors such as CoalOilGasHydroNuclearGeothermalOther renewablesOthers0%20%40%60%80%100%CanadaAPECAPEC ENERGY OVERVIEW 2024 38 o

321、il and gas,transportation,power generation,and buildings.To that end,in December 2023 the federal government released its framework to cap oil and gas sector emissions(ECCC,2023c).The framework proposes using a cap-and-trade system with a hard and declining cap on emissions.While certain details are

322、 being refined as regulations take shape,it is estimated that the sector will be expected to reduce sectoral emissions approximately 35%-38%below 2019 levels by 2030.Canadas efforts in this space will be complemented by its commitment to reduce oil and gas sector methane emissions 75%below 2012 leve

323、ls by 2030.Proposed amendments to existing regulations that will help facilitate this increased reduction were released in December 2023(ECCC,2023d).Finalised amendments are expected in 2024.Despite fluctuations in total GHG emissions for the sector,emissions have stabilised since 2010.While emissio

324、ns intensity varies across subsectors,it has decreased over the decade due to increased efficiencies.Canada continued investing in zero emission vehicle(ZEV)charging and refuelling infrastructure and incentives to make it easier and more affordable to own and operate ZEVs.Canada has committed to sal

325、es mandates that ensure that ZEVs constitute 20%of light-duty vehicles(LDVs)sales by 2026,60%by 2030 and 100%by 2035(Canada Gazette,2023).For medium-and heavy-duty vehicles(MHDVs),the government is targeting 35%of sales by 2030 and,for those applications wherein it is feasible,a 100%target by 2040.D

326、raft Clean Electricity Regulations were released in August 2023(ECCC,2023a).The proposed regulations would establish a performance standard for fossil fuel-generated electricity starting in 2035.Additionally,to help shape Canadas future electricity systems,the Clean Electricity Advisory Council was

327、launched(NRCan,2023c).The council is a group of experts who will provide the Government of Canada with advice on actions needed to achieve a net zero electricity sector by 2035.Canadas 2022 Budget allocated CAD 150 million to develop the Canada Green Buildings Strategy and launch the Codes Accelerat

328、ion Fund.Budget 2024 will invest CAD 903.5M in the Canada Green Buildings Strategy,which will focus on lowering home energy bills and reducing building emissions by supporting energy efficient retrofits,the adoption of better building codes,and promoting home energy labelling.This will include a new

329、 Canada Greener Homes Affordability Program and support for ongoing measures to improve energy efficiency tools for building owners and develop government approaches to home energy labelling.The anticipated publication date for the strategy is Spring 2024.Approximately 80%of Canadas building stock a

330、nticipated to exist in 2030 is already constructed(ECCC,2022).This underscores the critical need to prioritise energy efficiency measures in existing buildings and to expedite future emissions reduction requirements to decrease the risk of carbon lock-in from the sector.Buildings have been a key foc

331、us of Canadas energy efficiency actions,with a focus on affordability.Since 2021,Canada has committed to invest over CAD 6 billion to accelerate retrofits in commercial and institutional buildings,homes and community buildings through the Canada Infrastructure Bank,the Canada Greener Homes Initiativ

332、e,and the Green and Inclusive Community Buildings program.In Budget 2023,Canada announced new or expanded investment tax credits to spur investment in key sectors across the economy.The value of the tax credits varies by type,but are available for investments in carbon capture,use and storage,clean

333、technologies,clean hydrogen,clean electricity,and clean manufacturing(ECCC,2023e).Additionally,Budget 2024 announced the intention to introduce a new APEC ENERGY OVERVIEW 2024 39 10%tax credit on the cost of buildings used in key segments of the EV supply chain(Finance Canada,2024).While Canada is working towards policies and regulations targeted at reducing emissions,uncertainty around the future