Aussie east coast LNG exports see modest growth in 2023

Australian LNG exports from the east coast saw a modest 1.14% year/year increase in 2023, reaching 22.9mn tonnes, according to data published by Gladstone Port Corp. on January 6th.

China continued its reign as the top importer, scooping up 13.46mn tonnes, up from 12.38mn tonnes in 2022. However, South Korea and Japan, traditionally major LNG buyers, saw declines. South Korea's imports dipped to 3.42mn tonnes from 3.84mn tonnes in 2022 while Japan's imports dropped significantly to 1.98mn tonnes, from 2.66mn tonnes in the previous year.

The three projects responsible for these LNG exports from the Australian east coast are Origin-operated Australia Pacific LNG, Santos's Gladstone LNG, and Shell's Queensland Curtis LNG.

In December 2023, total exports from the projects hit 2.25mn tonnes, a notable improvement compared with 1.84mn tonnes in December 2022. China again played a leading role, importing 1.23mn tonnes, up from 991,261 tonnes a year ago.