Australia exports record LNG in FY 2022: EnergyQuest

Australia exported a record 82.6mn metric tons of LNG in the 12 months to June 30 (FY 2022), up 6.8% year/year, energy consultant EnergyQuest said on July 14. The FY 2022 exports were more than the previous record set in FY 2020 of 79.3mn mt.

“This is a good result given Prelude was shut-in for over four months of the year, and the depleting field supply at NWS and Darwin,” it said.

Australian projects operated at an average of 93% of the nameplate capacity of 88.6mn mt/yr. QCLNG, Gorgon, Pluto and Ichthys all operated at over 100% of their nameplate capacity for FY 2022, with Pluto operating at almost 10% above its nameplate capacity.

Western Australian production was up by 9% on FY 2021 to 46.9mn mt and the Northern Territory was up by 7% to 11.7mn mt. The east coast had record production in FY 2022 of 24mn mt, up 3% from FY 2021. The three Gladstone projects operated at 92% of nameplate capacity.

EnergyQuest estimates total FY 2022 export revenue was A$70.18bn ($47.2bn), up 130% on the A$30.48bn in FY 2021. Export income was driven by higher export volumes and much higher oil prices, it said.

In June Australian projects shipped a record 7.31mn mt of LNG, up on the 6.91mn mt in May and higher than the previous record of 7.2mn mt in October 2021. EnergyQuest estimates that Australian LNG export revenue increased in June to a record A$7.18bn, up from A$6.38bn in May and up by 135% on June 2021.