Page 12 - AsianOil Week 19 2022

AsianOil OCEANIA AsianOil

Australia’s LNG export revenue

up 95% y/y in April

PERFORMANCE AUSTRALIA’S LNG export revenue of from Australia equated to 77.6mn tonnes per
AUD5.5bn ($3.8bn) in April represented a year (tpy).
95% year-on-year increase, consultancy Ener- The consultancy said that despite high spot
gyQuest has said in its latest monthly Australian prices for LNG, there were only two spot cargoes
LNG report, released on May 13. However, the reported for shipping from Australian projects
figure was also a decrease of 8.3% on the pre- in April, accounting for 2% of total shipments.
vious month, when export revenue came in at This marked a decrease on three spot cargoes in
AUD6.0bn ($4.2bn). March.
This was in part attributed to the fact that This is noteworthy, as Australian LNG had
April is a slightly shorter month than March. been identified as one of the alternatives to Rus-
Over the course of April, Australian LNG pro- sian gas in the wake of the war with Ukraine.
jects shipped 92 cargoes amounting to 6.38mn However, buyers appear keen to avoid exposure
tonnes, EnergyQuest said, compared with 94 to high spot prices and some countries in Asia
cargoes totalling 6.41mn tonnes in March. – which is Australia’s main market – have been
However, in April, Australian projects shipped taking advantage of discounts on offer for Rus-
an average of 3.1 cargoes per day, up from 3.0 per sian LNG even as it is shunned elsewhere in the
day in March. world.
EnergyQuest noted that the Wheatstone China, Japan and South Korea accounted for
project shipped nine less cargoes owing to the majority of LNG cargoes shipped from Aus-
scheduled maintenance, but that Prelude float- tralia in April and there were no cargoes deliv-
ing LNG (FLNG) shipped three more cargoes ered to Europe, EnergyQuest said.
as shipments resumed after an outage at the On the domestic market, gas and electricity
facility. prices on the country’s east coast continued ris-
On an annualised basis, LNG shipments ing in April, and into May.™

NEWS IN BRIEF

SOUTH ASIA This plant will be using corn/broken rice encourage corn farming with sustainable,
as feedstock with eco-friendly technology multi-fold income for farmers through
GACL and GAIL signed term with a likely production capacity of 500 KLD increased productivity and assured market.
Bioethanol, which will be used for blending
Steps will also be taken to improve the
sheet for the setting up of a in petrol. As by-products from this plant, 135 productivity of corn in the state with the help
ktpa protein-rich animal feed and 16.50 ktpa
of the Maize Research Centre in Godhra and
500 kld Bioethanol plant in of corn oil while using corn as feedstock are other institute(s).
also expected to be produced.
GACL AND GAIL (INDIA), May 11, 2022
Gujarat and Sabarkantha are major corn-producing
Dahod, Panchmahal, Aravalli, Mahisagar
Gujarat Alkalies and Chemicals Ltd (GACL) districts in Gujarat and hence, the project Petronet LNG press release
and GAIL (India) have joined hands to set-up is likely to come up in this part of Gujarat. – Q4 2021-22 financial
a Bioethanol plant of 500 KLD capacity. A Corn is also produced in nearby states of
Term Sheet for the setting up of a Bioethanol Gujarat viz. Maharashtra, Madhya Pradesh results
plant in Gujarat was signed by Shri Harshad and Rajasthan. A Detailed Feasibility Study
R Patel, IAS, managing director of GACL and through a third party is in progress for the During the quarter ended 31st March, 2021
Shri R K Singhal, ED (BD & E&P) of GAIL, project. (current quarter), Dahej terminal processed
in the presence of Shri M V Iyer, director The estimated project cost is to the tune of 178 tbtu of LNG as against 196 tbtu processed
(business development) of GAIL, at New INR1,000 crore and it is expected to generate during the previous quarter ended December
Delhi, on May 10, 2022. annual revenue of approximately INR1,500 31, 2021 and 204 tbtu processed during the
This step is taken in response to the crore. corresponding quarter ended March 31, 2021.
Hon’ble Prime Minister of India’s call for An estimated savings of $70mn per year The overall LNG volume processed by the
‘Atmanirbhar Bharat’. The Hon’ble Prime in Foreign Exchange outgo is expected company in the current quarter was 190 tbtu,
Minister has launched a Roadmap for 20% through this project. Beyond the savings, as against the LNG volume processed in the
Ethanol Blending in Petrol by 2025, with a this project will also generate direct and previous and corresponding quarters, which
view to reduce import of crude oil and save indirect employment for around 700 persons. stood at 208 tbtu and 218 tbtu respectively.
valuable foreign exchange. Long term supply contract for corn would The company achieved a throughput of 847

P12 www. NEWSBASE .com Week 19 13•May•2022