Aussie LNG export revenue up 196% in Nov: EnergyQuest

Australian LNG export revenue in November was A$5.77bn ($4.13bn), up from A$5.44bn in October and up by 196% on November 2020, energy consultant EnergyQuest said on December 16. Global LNG prices have run up sharply in the last few months. 

In November, Australian projects shipped 7.15mn metric tons of LNG, slightly lower than the record 7.23mn mt in October. Overall, Australia’s November shipments were 87mn mt/yr on an annualised basis which is higher than the record October shipments of 85.1mn mt/yr on an annualised basis, EnergyQuest said.

China was the biggest buyer and imported 43 cargoes last month compared with 38 in October and 38 in November 2020.

Australian west coast shipments decreased to 4.9mn mt in November compared with 5.1mn mt in October. East coast LNG shipments increased to 2.2mn mt in November versus 2.1mn mt in October. The east coast projects operated at 104% of nameplate capacity during November, EnergyQuest said.

Australian exporters are doing particularly well from spot sales, EnergyQuest said. In November there were three spot cargoes reported from the east coast and four spot cargoes from the west coast (7% of total shipments).