EnergyQuest has just released its Australian LNG Monthly for September 2020. Some of the highlights are as follows:
- Chinese import restrictions, so far, do not appear to have affected Australian exports of LNG to China. In the first ten months of this year EnergyQuest estimates that Australia delivered 23.5 Mt of LNG to China, precisely the same volume as was delivered in the first 10 months of 2019. Japan remains Australia’s largest LNG customer.
- Lower oil and spot LNG prices have now worked their way into delivered LNG prices. The weighted average import price for China, Japan and Korea in September was US$5.26/MMBtu (A$6.87/GJ).
- In the 10 months to October EnergyQuest estimates Australia exported 64.5 Mt of LNG, slightly up on the 63.9 Mt exported over the same period in 2019.
- Australian LNG shipments in October were higher compared with September, primarily due to increased production at the North West Shelf and GLNG projects.
- West coast projects shipped 4.7 Mt (67 cargoes) in October, up compared to September (4.4 Mt and 64 cargoes).
- East coast projects shipped a record 2.05 Mt (31 cargoes) in October. The previous record was in April 2020 when the projects shipped 2.017 Mt (30 cargoes).
- Deliveries to major North Asian markets were higher in October compared with October 2019.
- The Gladstone LNG producers had a production deficit in October, with total production from LNG producers 0.3 PJ less than total LNG exports.
- Gas production from Moomba and offshore Victoria was down by 0.7 PJ compared with September and lower compared to a year ago.
- However, east coast gas-use for generation was well down, by 6.81 PJ (-44%) on a year earlier but 2.05 PJ higher compared with September, being replaced by hydro, solar and wind generation. Some major stations appear to have been offline for part or all of September.
Information about the EnergyQuest Australian LNG Monthly is available by clicking here