Oz LNG Exports 23% of Global Market: EnergyQuest
Australian LNG exports were 23% of the global market during the period January to August, advisory firm EnergyQuest said in a report published September 10.
After seven consecutive quarters of increase, the Australian average LNG price in Q2 2019 dropped almost 21% quarter on quarter, EnergyQuest said.
Western Australia (WA) domestic gas production in Q2 was 106 PJ (2.83bn m3). This is a quarterly record and in excess of 97 PJ (2.58bn m3) of consumption, with the surplus flowing into storage. “Unlike the case on the east coast, WA is experiencing a surfeit of domestic gas. Woodside's average realised Western Australian domestic gas price in Q2 was $3.41/GJ,” EnergyQuest said.
Domestic gas consumption on the east coast in Q2 2019 was at its lowest Q2 levels for at least 10 years. Queensland exported gas to the southern states in Q2, in line with seasonal patterns but at a higher rate than in previous years, EnergyQuest said.