Shipments of liquefied natural gas (LNG) from Australia have reached 5.4 million tons in March, rising month on month.
Energy consultancy, EnergyQuest, noted in its latest report that during March, Australian LNG projects exporter a total of 80 cargoes compared to 77 cargoes in February, totaling 5.1 million tons.
LNG export revenue increased in March to a record $3.1 billion due to higher oil prices, with Western Australia’s export revenue of $2.0 billion, Queensland revenue of $0.95 billion and Darwin revenue of $0.18 billion, the report shows.
North Asian LNG spot prices are continuing to fall, EnergyQuest said, noting that as of 30 March, the Sling North Asia index was at $7.05 (A$9.17) per mmBtu for May deliveries.
West coast LNG projects shipped 3.8 Mt in March (up from 3.5 Mt in February), at an annualized rate of 44.7 Mt which is 98 percent of nameplate capacity of 45.6 Mt, excluding the second train at the Wheatstone LNG project.
East coast LNG exports decreased slightly to 1.62 Mt in March, down from the 1.66 Mt seen in February. On an annualized basis east coast plants operated at 19.0 Mtpa in March, 75 percent of nameplate capacity of 25.3 Mt.
Queensland remains largely self-sufficient for gas, EnergyQuest said, adding that net gas imports from other states were only 0.4 percent of LNG exports in March.
CSG production was higher in March, the report says, noting that production from fields operated by the LNG producers was 112 PJ in March, up from 107 PJ in February.
Queensland short-term domestic gas prices were below those in February, averaging $7.65/GJ at Wallumbilla ($8.49/GJ in February) and $7.16/GJ in Brisbane ($7.45/GJ), EnergyQuest said.
Southern short-term domestic gas prices in March were also below February levels. As at the end of March LNG netbacks were higher than east coast domestic short-term gas prices.