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Australian LNG exports on the rise

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LNG Industry,

Reuters are reporting that Australia’s LNG exports are forecast to climb to 76.5 million t in the year to end-June 2019, from 63 million t forecast for the 2017/18 fiscal year and 52 million t last year.

Between 2016/17 and 2018/19, LNG should add AUS$14 billion to Australia’s export earnings, while iron ore is forecast to subtract AUS$10 billion.

The shift follows the construction of US$180 billion of new gas projects. The rise in LNG earnings will be underpinned as three remaining projects under construction hit their stride, it said. These are Chevron Corp’s Wheatstone project, Inpex Corp’s Ichthys and Royal Dutch Shell’s Prelude.

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