Australian LNG revenue dips in January

Australian LNG export revenue dropped 40 percent in January when compared to the year before reflecting the lagged effect of lower oil prices, consultancy EnergyQuest said in a report.

The total value of January LNG exports reached A$2.56 billion ($1.98 billion), the consultancy said in its monthly report. Revenue also decreased compared to December.

To remind, Australian LNG revenue dropped 25 percent last year as the effects related to the Covid-19 pandemic crippled prices, despite record high exports of 78.7 million tonnes.

EnergyQuest said in its January report that Australian projects shipped in total 6.7 million tonnes or 97 cargoes, a rise of 0.2 million tonnes compared to the previous month.

The consultancy attributed the rise to higher production at Woodside’s Pluto plant but also the restart of Shell’s Prelude FLNG.

In addition, West Coast shipments increased to 4.6 Mt in January to 66 cargoes, compared to 4.4 Mt in December and 63 cargoes.

East coast projects shipped 2.068 Mt or 31 cargoes in January, just below the record set in December of 2.186 Mt, the consultancy said.

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