• 5 minutes Trump will capitulate on the trade war
  • 7 minutes China 2019 - Orwell was 35 years out
  • 12 minutes Glory to Hong Kong
  • 15 minutes ABC of Brexit, economy wise, where to find sites, links to articles ?
  • 2 hours Is Eating Meat Worse Than Burning Oil?
  • 1 min Diplomatic immunity
  • 5 hours Canada Election Deadlock?
  • 6 hours China & Coal: China's 2019 coal imports set to rise more than 10%: analysts
  • 17 hours Clampdown on Chinese capital flight is shutting down their commercial construction in US
  • 1 day Here's your favourite girl, Tom!
  • 1 day Peaceful demonstration in Hong Kong again thwarted by brutality of police
  • 5 hours Wonders of US Shale: US Shale Benefits: The U.S. leads global petroleum and natural gas production with record growth in 2018
  • 4 hours Devaluing the Yuan
  • 1 day IMO 2020:
  • 16 hours Nigeria Demands $62B from Oil Majors
  • 1 day Deepwater GOM Project Claims Industry First
  • 14 hours Fareed Zakaria: Canary in the Coal Mine (U.S. Dollar Hegemony)
Tesla's 5 Most Inspiring Inventions

Tesla's 5 Most Inspiring Inventions

While Elon Musk garners most…

Australian LNG Revenue To Increase On Higher Exports, Higher Prices

LNG Asia

Australia is expecting an increase in the value of LNG exports from $23 billion to $39 billion, Australia’s Department of Industry, Innovation and Science said on Monday in its publication, Resources and Energy Quarterly.

Australia is looking to raise the country’s LNG export price for FY 2018-2019, and expects higher export volumes as well.

The price of its LNG, which is tied to oil prices, is expected to increase “modestly, constrained by price-sensitive shale oil in the United States and sluggish growth in world oil consumption,” the government body said.

Australia also said that it is expecting to ramp up LNG exports, with the last of Australia’s LNG projects due to completion by the end of 2018. The global LNG market expected to move into a period of overcapacity brought on by increases in LNG exports in both Australia and the United States.

For Australia, the final three Australian LNG projects currently underway will bring its total export capacity to 88 million tonnes. This time last year, Australia announced it would opt to restrict LNG exports in times of high demand and rising prices at home.

The expected increase in the value of exports for Australia is substantial—from $23 billion in 2016-2017 to $39 billion in 2022-2023. For FY 2018-2019, LNG is expected to wrest the title of Australia’s second largest resource and energy export away from metallurgical coal.

Another of Australia’s resources—oil—is also expected to see an increase in exports from $5.6 billion to in FY 2016-2017 to $9.3 billion in 2022-2023, like LNG, driven by higher export volumes and higher oil prices.

Australia’s LNG exports hit record highs in 2017 of 56.8 mtpa—a shocking 26.3 percent increase over the previous calendar year. Its LNG export revenue, which was boosted even further by the higher oil prices, increased 44.1 percent to $20.51 billion in calendar year 2017.

By Julianne Geiger for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play