Aussie LNG export revenue hits new record in October: EnergyQuest

Australian LNG export revenue increased significantly in October to a new record of A$10.6bn ($7.17bn), up from a record A$10.2bn in September and up by 82% year/year, energy consultant EnergyQuest said on November 16.

Western Australian projects earned export revenue of A$6.4bn, Queensland projects A$2.9bn and Northern Territory projects A$1.3bn.

Australia’s LNG exports in October came in at 7.13mn metric tons, down marginally from 7.21mn mt in September. The projects shipped an average of 3.4 cargoes/day, down slightly from the 3.5 cargoes/day average in September.

In October, 27 cargoes were delivered to China after delivering 22 in September and 38 in October 2021. Thirty-five deliveries were made to Japan in October after 39 were delivered in September and 32 were delivered in October last year. Australia delivered 17 cargoes to Korea in October, more than the 15 in September and up on the deliveries of last year when 13 cargoes were delivered.

West coast shipments remained steady at 5.2mn mt in October versus September, with 75 cargoes in October compared with 74 in September. A year ago, the west coast shipped 73 cargoes of 5.1mn mt. West coast projects operated at 98% of nameplate capacity during October, EnergyQuest said.

East coast LNG shipments also remained steady at 2mn mt in October compared with September, with 29 cargoes compared with 30 in September, and 32 cargoes of 2.1mn mt a year ago. The east coast projects operated at 88% of nameplate capacity during October.

Overall, Australia’s October shipments were 84mn mt/yr on an annualised basis.