Page 12 - AsianOil Week 27 2021

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Australian government’s ongoing support for and multi-project FLNG Solution frame-
our FLNG Solution development. We will con- work agreement with its strategic partners.
tinue progressing our development with a view The sides settled on terms and conditions
to offer[ing] sustainable and affordable energy covering the engineering procurement,
during the transition towards a carbon-free envi- construction and installation (EPCI) of the
ronment, as well as to provide job opportunity FLNG and upstream facilities, as well as gas
and growth in Australia.” offtake and liquefaction tolling arrange-
The Perth-based company announced ments spanning a range of stranded offshore
in January that it had signed a multi-party opportunities.™

Australia’s East Coast LNG exports

climb 3.72% in FY2020-2021

PROJECTS & LIQUEFIED natural gas (LNG) exports from more in services, infrastructure and jobs as part
COMPANIES Australia’s three East Coast terminals climbed by of the COVID-19 Economic Recovery Budget I
3.72% year on year in financial year 2020-2021. handed down last month.”
Australia Pacific LNG (APLNG), Gladstone Queensland Minister for Resources Scott
LNG (GLNG) and Queensland Curtis LNG’s Stewart argued that his state continued to do the
(QCLNG) exported 23mn tonnes of the fuel in “heavy lifting” in terms of supplying domestic
the 12 months to June 30, according to data from gas needs.
Gladstone Ports. Stewart added: “The Palaszczuk Government
China scooped up the lion’s share of the has released more than 80,000 square kilometres
exports at 15.8mn tonnes, up 4.6% on the year, of land for gas exploration since 2015, with over
following by South Korea at 3.2mn tonnes, a quarter of the gas guaranteed for Australian
Malaysia at 1.7mn tonnes and Japan at 1.3mn consumers.”
tonnes. China’s state-run majors have long-term The export figures come at a difficult time for
sales with each of the facilities, allowing the the federal government, which is under mount-
country to dominate the export numbers. ing pressure to throttle sales to overseas buyers
The three terminals saw their exports climb so as to cool rising domestic gas prices.
by 8.2% y/y in June to 1.84mn tonnes, which S&P Platts reported this week that Australia’s
was actually down 1.6% on the previous month. domestic spot gas prices had jumped on the back
While China dominated imports last month at of both higher winter demand and some supply
1.16mn tonnes, shipments were actually down outages.
14.7% y/y. Victoria’s spot gas prices, for example, hit
Hailing the LNG exports as an economic win A$20 ($14.87) per gigajoule on July 6, the high-
for the state, Queensland Treasurer and Minis- est level since June 27, 2016, Platts quoted energy
ter for Investment Cameron Dick said: “These consultancy EnergyQuest as saying. Other East
export volumes have provided a huge boost to Coast prices ranged from A$14.39 ($10.70) to
our economy and have allowed us to invest even A$18.20 ($13.53).™

P12 www. NEWSBASE .com Week 27 09•July 9•2021