The value of Australian LNG exports in January is likely to come in similar to the record $1.9 billion recorded in December. The latest EnergyQuest LNG report estimates that Australian export volumes in January were steady with December at 4.4 million tonnes (67 cargoes).
“Oil prices, to which LNG prices are linked, were down slightly in January compared with December but overall we expect the January number to be pretty close,” said EnergyQuest CEO Dr Graeme Bethune.
“LNG is really starting to make a big economic contribution now as new projects like Gorgon come online. The value of LNG exports is now nearly double what it was as recently as May last year.”
Japanese customers took 48% of Australian deliveries in January, Chinese customers 25% and Korean customers 18%. Korea is a growing market for Australian LNG.
Based on December import data, Australia supplied 40% of Chinese imports, 28% of Japanese imports and 14% of Korean imports.