Oil and Gas News

North West Shelf, Gladstone LNG key to export recovery: EnergyQuest

Australian liquefied natural gas (LNG) shipments in October were higher compared with September, primarily due to increased production at the North West Shelf and Gladstone LNG projects.

 

Outlined in EnergyQuest’s Australian LNG monthly October report, Australian projects shipped 6.7 million tonnes (Mt) in October, compared with 6.2 Mt in September.

East Coast projects shipped a record 31 cargoes during the month, breaking the previous record of April 2020 when the projects shipped 30 cargoes.

“This comes just three months after a two-year low in production seen in July at the height of the pandemic. The east coast projects operated at 95 per cent of nameplate capacity during October,” EnergyQuest stated.

The Gladstone LNG producer had a production deficit in October, with total production from LNG producers 0.3 petajoules (PJ) less than total LNG exports.

The report highlighted this was lower compared with September when the producers had a 6.6 PJ surplus.

At North West Shelf (NWS) shipments increased to 21 cargoes of 1.480 Mt, compared to the 18 cargoes of 1.214 Mt in September.

The report further advised that production was 17.4 Mt on an annualised basis, which is above nameplate capacity and above contract levels.

Of the 22 NWS cargoes delivered in October, 13 were delivered to Japan (11 in September), seven to China (7) and two to Korea.

NWS domestic production also averaged 56 terajoules a day (TJ/d) in October, well down compared with 73 TJ/d in September.

However, gas production from Moomba and offshore Victoria was also down by 0.7 PJ, compared with September and lower compared to a year ago.

In addition, EnergyQuest’s tracking data showed a number of Australian cargoes delayed during their joint has continued to decrease during the month.

Of the 98 cargoes shipped in October, 12 cargoes were delayed by sitting at anchorage or steaming in circles prior to reaching their destination, which is well down on the 20 in September.

 

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