Australian LNG export revenue sinks

Australian LNG export revenue dropped 25 percent last year when compared to the year before as the effects related to the Covid-19 pandemic crippled prices.

The total value of 2020 LNG exports reached A$36.2 billion ($27.8 billion), down from the 2019 record of A$48.6 billion, according to the trade data released by the Australian Bureau of Statistics.

Monthly revenue from LNG exports reached a 2020 low of A$1.8 billion in September, reflecting the lagged effect of lower oil prices, consultancy EnergyQuest said in a report.

However, revenue has increased every month since, reaching A$2.7 billion in December, up by 4.7% from A$2.5 billion in November, it said.

The consultancy released a report last month saying that Australian LNG exports reached a record high of 78.0 million tonnes in 2020. This compares to 77.5 million tonnes in 2019.

Production logged a rise despite the disruptions at Chevron’s Gorgon project and the fact that Shell’s Prelude hadn’t produced LNG since early February. On top of this, effects related to the pandemic destroyed LNG demand, particularly early in the year.

Japan remained the top export destination for Australian LNG last year, followed by China and South Korea.

Most Popular

Venture Global gets FERC OK to boost Calcasieu Pass LNG capacity

US LNG exporter Venture Global LNG has received approval from the US FERC to increase the peak liquefaction capacity of its Calcasieu Pass LNG terminal in Louisiana.

Worley updates on CP2 LNG work

Australian engineering firm Worley has provided an update on its reimbursable EPC contract with US LNG exporter Venture Global LNG for the latter's CP2 LNG terminal in Louisiana.

Deutsche ReGas, German government reach deal on FSRU charter termination

LNG terminal operator Deutsche ReGas and Germany's Ministry for Economic Affairs and Energy have reached a mutual agreement on resolving the sub-charter agreement for the 174,000-cubic-meter FSRU Energos Power.

More News Like This

Australian LNG export revenue down in May

Australian liquefied natural gas (LNG) export revenue decreased by 6.2 percent year-on-year in May, according to EnergyQuest.

Australian LNG export revenue slightly down in April

Australian liquefied natural gas (LNG) export revenue decreased by 0.5 percent year-on-year in April, according to EnergyQuest.

Australian LNG export revenue drops in March

The consultancy estimates that Australian LNG export revenue reached A$5.59 billion ($3.55 billion) last month. EnergyQuest said this was down...

Australian LNG export revenue down in February

Australian liquefied natural gas (LNG) export revenue decreased by 19 percent year-on-year in February, according to EnergyQuest.