Aussie LNG export revenue down 4% in April: EnergyQuest

Australian LNG export revenue in April was A$6bn ($3.99bn), lower than the A$7.1bn in March, and down by 4% on April 2022, energy consultant EnergyQuest said on May 15.

In terms of volume, Australia shipped 6.73mn metric tons of LNG in April (equivalent to 97 cargoes), down from 7.16mn mt (104 cargoes) in March. The average daily shipment rate was 3.2 cargoes, slightly lower than the average of 3.4 cargoes per day in March. Overall, Australia’s April 2023 shipments were 81.9mn mt/year on an annualised basis. 

EnergyQuest noted that Asian spot LNG prices recently hit a 23-month low due to mild weather and weak restocking demand in China, Japan, and Korea. Meanwhile, Europe's LNG inventories were reported to be 60% full ahead of the summer season.

The average LNG price for June delivery into northeast Asia LNG-AS was $11/mn Btu), the lowest level seen since June 2021.