The value of Australia’s monthly LNG exports rose to AUS$1.75 billion in October 2016, according to independent energy analyst, EnergyQuest.
In its ‘Monthly LNG Report’, EnergyQuest notes that the LNG sector’s performance in October surpassed the previous monthly record of AUS$1.72 billion in Australian LNG export values from January 2015.
The ‘Monthly LNG Report’ monitors the growth in Australian LNG by project, together with developments in major markets, progress by competitors and interactions between Australian LNG projects and domestic gas markets.
Australian LNG export volumes grew by 6.6% (65 cargoes) in October 2016 to 4.3 million t up from 4 million t (61 cargoes) in September 2016.
EnergyQuest Chief Executive Officer (CEO), Dr Graeme Bethune, said: “There was a particularly strong performance by LNG projects on the west coast […] Western Australian projects in October shipped 2.4 million t (36 cargoes), up from 2.2 million t (33 cargoes) in September […] Woodside’s Pluto project shipped 7 cargoes in October, up from five cargoes in September […] Gorgon, operated by Chevron, continues to ramp up and shipped one additional cargo […] Darwin LNG, operated by ConocoPhillips, shipped 0.3 million t (5 cargoes), up from 0.2 million t (3 cargoes) the previous month.”
On Queensland’s east coast, the Gladstone LNG project shipped 1.5 million t (24 cargoes), down slightly from 1.6 million t (25 cargoes) in September.
Dr Bethune added: “Interestingly, the Santos-operated Gladstone LNG project sent its first cargo to Mexico, a country that imports gas from the United States […] The shipment was delivered to the Manzanillo LNG facility, on Mexico’s mid-west coast, a project which is a joint venture between Mitsui, KOGAS (a GLNG partner), and Samsung […] This consignment means that all three new Queensland LNG projects – QCLNG, GLNG and APLNG – have now shipped one cargo each to Mexico.
“Asian buyers like KOGAS are increasingly looking to new gas markets and as Mexico imports gas from the US, it is interesting to see Queensland gas being imported into Mexico.
“From a broader market perspective, rather than new US LNG supply heading west to Asia, which is a major market concern for Australian and South East Asian LNG players, this cargo was yet further demonstration of the Australian LNG sector being able to ship east to America.”
EnergyQuest also notes that the LNG spot price in Asia stood at US$7/million Btu in October 2016 – the highest it has been this year.
Read the article online at: https://www.lngindustry.com/liquefaction/14112016/australian-lng-exports-hit-record/