EnergyQuest has just released its Australian LNG Monthly for August 2022.
There are special reports on:
- Record international energy prices
- Europe relying on fracked U.S. gas to avoid winter shortages
- EU energy plans
- Impact of gas sanctions on Russia
- The rapid rise of U.S. LNG
- East coast gas prices falling notwithstanding higher Gladstone exports
- ADGSM scares Japanese and Korean LNG buyers
Some of the highlights of this report are:
- EnergyQuest estimates that Australian LNG export revenue increased in August to a new record of $7.52 billion, up from a record $7.13 billion in July and up by 58% on August 2021.
- In August Australian projects shipped 6.66 million tonnes (Mt) (97 cargoes), up on 6.20 Mt (90 cargoes) in July.
- Overall, Australia’s August shipments were 78.4 Mtpa on an annualised basis.
- West Coast shipments increased to 4.7 Mt in August (4.5 Mt in July), with 68 cargoes in August compared to 64 in July.
- East coast LNG shipments increased to 1.9 Mt in August (1.7 Mt in July), with 29 cargoes compared to 26 in July, and 29 cargoes of 1.9 Mt a year ago.
- There were five spot cargoes reported for shipping from Australian projects in August, all from the west coast (5% of total shipments). There were five spot cargoes in July.
- Queensland exported gas to the other states in August, with net flows in a westerly direction.
- Queensland short-term domestic gas prices in August were much lower averaging $17.33/GJ ($40.85/GJ in July) at Wallumbilla and $16.53/GJ ($40.20/GJ) in Brisbane.
- Southern short-term domestic gas prices in August were much lower compared to those in July averaging $17.16/GJ ($42.89/GJ) in Adelaide, $16.97/GJ ($43.33/GJ) in Sydney and $15.63/GJ ($37.30/GJ) in Victoria.
- Power generation in August from coal fell to a record low for this time of year, with generation down by 181 GWh from a year earlier, and down on July. Gas-use for power generation was up by 1.06 PJ in August (11%) compared with a year earlier.
Information about the EnergyQuest Australian LNG Monthly is available by clicking here.