Australian LNG exports increased slightly in June when compared to the month before, according to EnergyQuest.
In June, Australian projects shipped in total 5.85 million tonnes or 85 cargoes, slightly higher than the 5.82 Mt or 84 cargoes in May, the consultancy said in its monthly report.
Also, these imports were considerably down when compared to record 7.2 million tonnes or 105 cargoes in March.
West Coast LNG shipments increased to 4 million tonnes in June when compared to 3.8 million tonnes in May while East coast shipments decreased to 1.8 million tonnes, the report said.
In addition, JKM spot LNG futures steadily increased during June from $10.98/MMBtu on June 1 for July deliveries to a high for the month of $13.39/MMBtu on June 30 for August deliveries.
China overtakes Japan as Australia’s top LNG export destination
Australia exported 77.2 million tonnes of LNG in the 12 months to June 30, less than the 79.5 million in FY 2020, EnergyQuest said.
Moreover, China overtook Japan as Australia’s top LNG export destination in FY 2021 with 29.8 million tonnes, the consultancy said.
Western Australian LNG production dropped by 5% on FY 2020 to 45.1 million tonnes and the Northern Territory was down by 6% to 8.8 million tonnes.
The east coast had a record production of 23.3 million tonnes, up 4% from FY 2020, it said.
EnergyQuest forecasts FY 2022 LNG exports of 80 million tonnes and a A$17 billion ($12.5 billion) increase in LNG export revenue.