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LNG exports hit new high

EnergyQuest said Australian exports reached 69.5 Mt in 2018, up from 56.5 Mt in 2017, generating an estimated revenue of $43.3 billion.

This 67 per cent revenue increase was attributed to higher export volumes and increased oil prices, keeping LNG as Australia’s third largest export in 2018 after coal and iron ore.

The substantial increase in export volume was attributed to the start-up of INPEX’s Ichthys project and the continued good performance of the Wheatstone development in Western Australia.

Japan was still the largest importer of Australian LNG, importing 29.8 Mt in 2018, an 11.8 per cent increase since 2017.

China, the second-largest importer, increased imports by 34.9 per cent to 23.5 Mt.

EnergyQuest expects LNG exports to increase again in 2019 with the start up of Shell’s Prelude project, and the ramping up of Ichthys and Wheatstone to full capacity.

For more information visit the EnergyQuest website.

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