Oz LNG Exports in May Down on Month

Australian LNG exports in May were 6.4mn metric tons, down 7.2% month on month, and unchanged yr/yr, energy consultancy EnergyQuest said in its monthly report published on June 15.

“Australian LNG shipments appear to be starting to see the impacts of the Covid-19 pandemic and the global oversupply of LNG. Australian LNG shipments in May were down by seven cargoes compared with April, primarily due to lower cargoes from APLNG and Ichthys,” the consultancy said.

EnergyQuest said that during May there has been a marked increase in the number of cargoes that have had their delivery delayed. It estimates 41 Australian cargoes have anchored offshore or are steaming slowly awaiting final destination orders during May and early June.

Deliveries to China are, however, still holding up. Australian projects delivered 37 cargoes to China in May, after delivering 40 in April and 38 in May 2019, EnergyQuest said. Twenty-nine deliveries were made to Japan in May, well down on 36 delivered in April and down on 33 delivered in May 2019. Australia delivered 10 cargoes to South Korea in May, up slightly on the deliveries of last year when nine cargoes were delivered.