Australia exports record LNG in H1: EnergyQuest

Australian LNG exports set a new first half-year record at 40.7mn tonnes, according to energy consultant EnergyQuest's announcement on September 6.

The first half shipment represents 92.2% of the nameplate capacity of 88.6mn tonnes/year and puts the industry on track to slightly exceed 2022's record of 81.2mn tonnes, EnergyQuest added.

East coast LNG exports recovered in Q2 2023 to 5.82mn tonnes from 5.48mn tonnes in Q1 2023, when maintenance at one of two QCLNG trains dragged down total volume. East coast production in Q2 2023 was slightly ahead of 5.74mn tonnes in Q2 2022 and in line with the quarterly average over the past year.

However, the strong performance of the Australian LNG industry is facing some headwinds. In recent weeks, major Australian LNG export projects operated by Woodside and Chevron have faced industrial action which could impact output. Chevron's Gorgon and Wheatstone facilities in Western Australia - along with Woodside's projects in the same area - account for one-tenth of global supplies.

Woodside recently resolved the dispute at its North West Shelf LNG facility, but Chevron will hold a final round of talks with the union.

The outcome of these talks will be closely watched by the market, as any disruption to Australian LNG exports could have an impact on global gas prices.