EnergyQuest: Australian LNG export revenue hits record high in August

Australian liquefied natural gas (LNG) export revenue rose 58 percent year-on-year in August to a new record high, according to EnergyQuest.

The consultancy said in its monthly report it estimates that Australian LNG export revenue reached A$7.52 billion ($4.95 billion), up from a record A$7.13 billion in July.

Australian projects shipped in total 6.66 million tonnes or 97 cargoes, a rise compared to 6.20 Mt or 90 cargoes in July, but down from 7.18 Mt or 105 cargoes in August last year.

LNG exports hit a new record high in June this year and in fiscal 2022.

Five spot LNG shipments

There were five spot LNG cargoes reported for shipping from Australian projects in August, all from the west coast, EnergyQuest said.

Australian terminals also shipped five spot LNG cargoes in July.

West coast shipments increased to 4.7 Mt in August, with 68 cargoes in August compared to 64 in July, the consultancy said.

On the other side, east coast LNG shipments increased to 1.9 Mt in August, with 29 cargoes compared to 26 in July, and 29 cargoes of 1.9 Mt a year ago, it said.

Worth mentioning here, LNG giant Shell recently resumed LNG cargo loading operations from its 3.6 mtpa Prelude floating LNG producer offshore Western Australia.

Shell shipped the first cargo since July this year after reaching an agreement with unions representing Prelude FLNG workers.

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