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The consultancy estimates that Australian LNG export revenue reached A$3.91 billion ($2.72 billion) last month, with three fewer operating days.
EnergyQuest said the LNG export revenue dropped from A$4.80 billion in January 2026 A$4.95 billion in December 2025.
The February 2026 result was also lower than the November result of $A4.85 billion, the October result of A$4.52 billion, and the September result of A$4.20 billion, it said.
90 cargoes
Based on shipping data, EnergyQuest estimates that Australia exported 6.26 Mt of LNG in February 2026, totaling 90 cargoes.
This represented a decrease of 11.6 percent from January 2026, when exports totalled 7.08 Mt, for 102 cargoes.
When annualised, February’s exports represent 81.6 Mtpa, equivalent to 94.9 percent of the total Australian nameplate capacity of 86 Mtpa, EnergyQuest said.
Combined, the five Western Australian projects (NWS, Pluto, Gorgon, Prelude, and Wheatstone) shipped 50 cargoes (3.56 Mt) during February 2026, nine cargoes fewer than the 59 cargoes (4.15 Mt) they shipped during January 2026, EnergyQuest said.
The Ichthys LNG project and the Darwin LNG project shipped 11 cargoes for 0.81 Mt during February 2026, which was down by one cargo compared to 12 cargoes for 0.89 Mt in January 2025 and 12 cargoes for 0.91 Mt (Ichthys only) in December 2025, it said.
During February, the Queensland projects shipped 29 cargoes (1.89 Mt), down by two cargoes compared to 31 cargoes (2.04 Mt) in January.
EnergyQuest said the February result was also down compared to 33 cargoes (2.13 Mt) in December 2025, 31 cargoes (2.00 Mt) in November 2025, and 33 cargoes (2.14 Mt) in October.