FY18 LNG ex­ports to jump 22 per cent

The Australian Energy Review - - NEWS - CAMERON DRUM­MOND

ENERGYQUEST data re­leased dur­ing July has fore­cast a 22 per cent growth in Aus­tralian LNG ex­ports for the 2018 fi­nan­cial year, af­ter a record an­nual ex­port of 51.4 mil­lion tonnes for FY17.

The in­de­pen­dent en­ergy con­sul­tancy ex­pected that vol­ume to be out­per­formed in the cur­rent fi­nan­cial year, grow­ing to 63mt by June 30 next year – just be­low fore­casts from Aus­tralia’s Of­fice of the Chief Econ­o­mist.

The ex­pected growth was due to ac­cel­er­ated ship­ments out of Chevron’s Gor­gon, the com­mence­ment of LNG pro­duc­tion out of the Wheat­stone plant next month, and the start of pro­duc­tion out of Dar­win’s Ichthys project in cal­en­dar year 2018.

FY17 LNG ex­ports were 37 per cent higher than in FY16 and had an es­ti­mated sales value of $22.3 bil­lion, com­pared to $16.6bn the pre­vi­ous year.

The re­port found that Aus­tralia con­tin­ued to hold its own in key North Asian mar­kets against Qatar – the world’s largest LNG ex­porter – and rapidly ris­ing ex­ports from the US.

“Over FY17, pro­duc­tion in­creased from al­most ev­ery Aus­tralian LNG project and both West­ern Aus­tralia and Queens­land boosted their State out­puts to higher lev­els,” Energyquest chief ex­ec­u­tive Dr Graeme Bethune said.

“The ex­cep­tions were Dar­win LNG (down 0.9mt) and QCLNG (down 0.7mt) com­pared to their pre­vi­ous 12 months per­for­mance,” Dr Bethune said.

“With ris­ing Aus­tralian LNG ex­port volumes, we are see­ing the sec­tor’s to­tal ex­port rev­enue in­creas­ing quickly, in­clud­ing record monthly lev­els to­wards year’s close.”

In June, the Pluto, Dar­win and APLNG plants all pro­duced at above name­plate ca­pac­ity, with APLNG pro­duc­ing at 110 per cent of name­plate.

“With ris­ing AUS­TRALIAN LNG Ex­port VOLUMES, WE ARE SEE­ING THE SEC­TOR’S TO­TAL Ex­port REV­ENUE IN­CREAS­ING quickly, in­clud­ing record MONTHLY LEV­ELS TO­WARDS YEAR’S CLOSE.”

Im­age: IN­PEX.

the IN­PEX-LED Ichthys LNG Project cen­tral pro­cess­ing fa­cil­ity.

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