Australia is now the world’s largest LNG exporter, and timely and reliable information on LNG exports is essential.
According to EnergyQuest, global gas prices continue to increase in what is now considered an energy crisis.
High international gas prices are reflected in the ACCC’s estimate of LNG netback at Wallumbilla but not in actual east cost gas prices, where prices actually fell in September, averaging $8.28/GJ (from $8.68 in August) at Wallumbilla and $8.36/GJ (from $8.54/GJ) in Brisbane.
The advisory said Chinese buyers are seeking contracts from the US and Qatar as less volatile, long-term supply contracts.
There has not been any news of Chinese interest in Australian contracts for the last month; however, Australia remains by far China’s largest LNG supplier.
For the month of September, Australian projects shipped 6.96 million t of LNG, equivalent to 101 cargoes, which was slightly lower than the near-record 7.18 million t (10. Cargoes) shipped in August.
According to EnergyQuest, notwithstanding continued high LNG spot prices, Queensland’s short-term domestic gas prices in September were lower.
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For more information visit the EnergyQuest website.