EnergyQuest has just released its Australian LNG Monthly for May 2021. Some of the highlights are:
- Australia’s May LNG shipments were the lowest since February 2019.
- Asian LNG spot prices have passed US$12/MMBtu.
- The Callide Power Station outage has boosted the share of gas in Queensland generation from 6% to 20%.
- Australian projects delivered 43 cargoes to China in May, after delivering 43 in April and 37 in May 2020.
- Twenty-six deliveries were made to Japan in April, less than the 33 delivered in April and down on 29 delivered in May 2020.
- Australia delivered 6 cargoes to Korea in May, less than the deliveries of last year when 10 cargoes were delivered.
- West Coast shipments decreased significantly to 3.8 Mt in May (4.9 Mt in April), with 55 cargoes in May compared to 69 in April.
- East coast LNG shipments remained steady at 2.0 Mt in May (2.0 Mt in April), with 29 cargoes compared to 30 in April.
- Queensland exported gas to the other states in May, with flows in an easterly direction at the start of the month, but quickly turning westerly. Net gas flows from Queensland to other states were 2.3 PJ in May.
- Queensland short-term domestic gas prices in May were higher averaging $7.32/GJ ($6.97/GJ in April) at Wallumbilla and $7.56 /GJ ($6.84/GJ) in Brisbane, compared to those in April.
- Southern short-term domestic gas prices in May were higher compared to those in April averaging $7.51/GJ ($6.66/GJ) in Sydney, $7.48/GJ ($6.92/GJ) in Adelaide and $6.33/GJ ($5.99/GJ) in Victoria.
- East coast electricity demand continues to rebound, growing by 2.4% in May compared with a year earlier.
- Gas-use for power generation was down by 0.69 PJ in May (-6%) compared with a year earlier.
Information about the EnergyQuest Australian LNG Monthly is available by clicking here.