According to the latest Reuters report, Australia has overtaken Qatar as the world’s largest LNG exporter for the month of November 2018.
In November, Australia exported 6.5 million t of LNG, compared to Qatar which exported approximately 6.2 million t. This spike in Australian LNG output is due to the start-up of several projects over last three years – most notable the Ichthys LNG project operated by INPEX.
The completion of the construction of Royal Dutch Shell’s ‘Prelude’ project next year is expected to secure Australia at number one for the time being, however Qatar will not fall behind for long. Sanford Bernstein analyst Neil Beveridge has identified that Qatar will respond quickly with a new wave of projects, and will likely regain the top spot by the early 2020s.
Qatar Petroleum’s plans to boost its export capacity to 110 million tpy by 2024 (up from 77 million tpy) will certainly put the pressure on Australia to continue expanding if it wants to remain competitive in the ongoing race for the LNG export crown.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/10122018/australia-becomes-the-world-largest-lng-exporter-for-november/