Australian E Coast LNG Exports Shrink

Exports of LNG from the east coast of Australia fell to a six-month low in February with volumes to China registering their lowest monthly total since May last year, data from the Gladstone Ports Corporation (GPC) showed March 6.

The ConocoPhillips-Origin Energy Australia Pacific LNG, Shell’s Queensland Curtis LNG, and the Santos-led Gladstone LNG projects shipped a combined 1.65mn metric tons (mt) of the fuel in February, which fell from 1.77mn mt in January but remained above February last year when 1.56mn mt went.

Gladstone Port set an all-time record for LNG exports in December with numbers easing in the two months following. The February total is the smallest monthly amount since August last year when 1.63mn mt were shipped, data from GPC said.

Volumes to China in February were 967,659 mt, down 28% month on month but still up 62% year on year. This is the lowest they have been since May last year when 928,170 mt went. The most ever shipped to China in one month was in December: 1.35mn mt.

The only other destinations to be sent LNG from Gladstone in February were Japan and South Korea.

Volumes to Japan were at a two-month high of 319,029mn mt, up 148% month on month and 67% year on year. Exports to South Korea, of 365,391 mt, were up 51% month on month and down 28% year on year.