EnergyQuest has just released its November 2019 LNG Report. Some of the highlights are:
- Australian LNG shipments have not been affected yet by the surplus of LNG globally. Total Australian LNG shipments in November were 6.5 million tonnes (Mt) (96 cargoes), only slightly lower than 6.6 Mt (97 cargoes) in October.
- Australia’s November shipments were 78.9 Mtpa on an annualised basis, above Qatar’s nameplate capacity of 77 Mtpa. In the 11 months to the end of November Australian projects shipped 70.4 Mt. We expect that total Australian shipments for 2019 will be very close to Qatar on an annual basis at close to 77 Mt.
- Average capacity utilisation was down slightly in November due to reduced production at Gorgon. The NWS was back up to normal production levels while other projects were all performing well.
- West coast LNG shipments were up by 1 cargo in November compared with October, primarily due to the North West Shelf (NWS) (+5) returning to normal production rates. A number of spot cargoes have become available from west coast projects for November and December loading including 6 cargoes from Ichthys.
- East coast LNG shipments were down by 2 cargoes in November compared with October. No spot cargoes were available for November loading from the east Coast.
- The Gladstone LNG producers produced a surplus of 4.8 PJ above exports in November, lower compared with 5.3 PJ in October. Queensland exports to the southern states were again reduced (1.0 PJ in November compared with 1.7 PJ in October), and production from Moomba and offshore Victoria was down by 6.6 PJ compared with October.
- Even though there was less surplus gas than in October, east coast short-term gas prices were lower than those in October and lower than November 2018. East coast gas-use for generation was down by 0.3 PJ on a year earlier and down 5.5 PJ compared with October.
Information about the EnergyQuest LNG service is available by clicking here