EnergyQuest has just released the January 2023 Australian LNG Monthly report.
In addition to all the LNG statistics, there are two main stories:
One is on the proposed changes to the Australian Domestic Gas Security Mechanism, asking whether Australia is really the stable and reliable energy supplier that politicians claim it to be. Whatever its past record, its reliability looks likely to be severely tested over the next 12 months.
The other lead article is a review of developments in the North Asian LNG market in 2022, with a plunge in Chinese LNG imports and Japan overtaking China. There was a big drop in Australian exports to China, more than offset by increased sales elsewhere in Asia and further afield in South America, the Middle East, and Europe. Australian LNG has been able to respond quickly to significant changes in global demand caused by COVID and Russia. However, the proposed changes to the ADGSM risk putting Australian LNG in a bureaucratic straightjacket, unable to quickly adapt to rapid changes in global markets.
Information about the EnergyQuest Australian LNG Monthly is available by clicking here.