Australian LNG export revenue falls in September: EnergyQuest

Australian LNG export revenue for September was A$5.5bn, down from A$5.85bn ($3.7bn) in August, and 46% year/year, according to energy consultant EnergyQuest's announcement on October 16.

The country shipped 6.38mn tonnes of the commodity in September, lower than the 6.85mn tonnes shipped in August. Overall, Australia's September 2023 LNG shipments were 77.6mn tonnes/year on an annualised basis.

Compared with August 2023, Australian projects delivered 11 fewer cargoes to North Asia (China, Korea, and Japan) in September, one more cargo each to Malaysia and Thailand, three additional cargoes to Singapore, three fewer cargoes to Taiwan and one less to each of Indonesia and the Philippines.

Deliveries to China and Japan remained strong, EnergyQuest said. In September, 23 cargoes were delivered to China, down from 31 in August and 22 in September 2022. Australia delivered 37 cargoes to Japan in September, up from 34 in August, and down from 39 in September 2022.

Australian west coast shipments were lower at 4.28mn tonnes in September, down from 4.94mn tonnes in August. There were 62 cargoes in September, compared to 71 in August. A year ago, the west coast shipped 74 cargoes of 5.2mn tonnes. West coast projects operated at 83% of nameplate capacity during September.

East coast LNG shipments were higher at 2.1mn tonnes in September, up from 1.9mn tonnes in August. There were 31 cargoes, compared to 28 in August, and 30 cargoes of 2mn tonnes a year ago. The east coast projects operated at 98% of nameplate capacity during September.

Commenting on the restart of the Chevron strike action, EnergyQuest said that the potential for extended strike action impacting LNG shipments is low given the high stakes for Chevron.