Page 10 - GLNG Week 34 2022

GLNG AUSTRAL ASIA GLNG

Australian LNG export

revenues spike in July

EXPORTS AUSTRALIAN LNG export revenues soared operating at 84% of their nameplate capacity
to a record AUD6.84bn ($4.8bn) in July, up 2% during the last month, EnergyQuest reported.
month on month, as soaring market prices more LNG shipments from the country’s East Coast
than offset the impact of a dip in volumes, energy projects meanwhile totalled 1.7mn tonnes in
consultancy EnergyQuest reported on August July, versus 1.8mn tonnes in the previous month
17. and 1.8mn tonnes in July last year. Those projects
Revenues were also up 59% year on year, the are working at 79% of their nameplate capacity
consultancy said. LNG export volumes came to during the month.
6.2mn tonnes during the month, down from a Most of Australia’s LNG is sold under long-
record 7.31 tonnes in June. On an annualised term contracts, and the country sold only five
basis, exports amounted to 73mn tonnes. The spot cargoes last month, all from West Coast
country exported an annual record of 82.6mn projects.
tonnes in the 12 months ending June 30, accord- The further climb in Australian LNG export
ing to EnergyQuest. revenues in July comes as the government voices
Twenty-five Australian LNG cargoes were concerns that the country may face a domestic
dispatched to China during July, compared with supply crunch in the coming years. The Austral-
27 in the previous month and 32 in July last year. ian Competition and Consumer Commission
Thirty-six cargoes went to Japan, versus 37 in (ACCC) issued a report recently projecting that
June this year and 32 in July last year. Japan has the country would face gas shortages and steep
re-established itself as the top buyer of Australian price hikes in 2023 and 2024. It has suggested
LNG in recent months. that the government invoke, if necessary, the
LNG exports from Australia’s West Coast fell 2017 Australian Domestic Gas Supply Mecha-
to 4.5mn tonnes in July from a record of 5.5mn nism (ADGSM), that would enable authorities
tonnes in June, and versus 5mn tonnes in July to redirect supplies that had been meant for LNG
last year. West Coast liquefaction terminals were export to the domestic market.™

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