Report examines Australia top position in global LNG exports
Australia’s Department of Industry, Innovation and Science (DIIS) recently reported that the nation is on target to surpass Qatar as the world’s largest liquefied natural gas (LNG) exporter.
The Energy Information Administration (EIA) is expecting Australia to consistently export more LNG than Qatar within the next year in the wake of Australia already surpassing Qatar in LNG export capacity and exporting more LNG than Qatar in November 2018 and April 2019.
Australia’s LNG export capacity increased from 2.6 billion cubic feet per day (Bcf/d) in 2011 to more than 11.4 Bcf/d in 2019, noting the DIIS forecasts Australian LNG exports will grow to 10.8 Bcf/d by 2020–21 once the recently commissioned Wheatstone, Ichthys and Prelude floating LNG (FLNG) projects ramp up to full production.
Reports detail the manner in which Australia’s LNG is exported under long-term contracts to three countries – Japan, China, and South Korea, revealing an increased share of Australia’s LNG exports in recent years has been sent to China to serve its growing natural gas demand.
Remaining volumes were almost entirely exported to other countries in Asia, with occasional small volumes exported to destinations outside of Asia.
Authorities said a series of private companies have proposed the development of LNG import terminals in southeastern Australia. Of the five proposed endeavors, Port Kembla LNG is in the most advanced stage, having secured required permits and an offtake contract with Australian customers.
