Australia’s LNG exports have remained stable for the month of October with global pressures contributing to a new record of $10.6 billion in export revenue according to a new report from energy advisory firm EnergyQuest.
LNG exports revenue recorded a $400,000 increase in October up from the previous record of $10.2 billion set in September according to EnergyQuest’s Australian LNG Monthly report for October 2022.
The new record reflects the skyrocketing price of international LNG shipments, revenue for which has increased by 82 per cent since this time last year.
Western Australian projects earned export revenue of $6.4 billion, Queensland projects $2.9 billion and Northern Territory projects $1.3 billion.
Statistical findings from the report include evidence that:
- West Coast shipments remained steady at 5.2Mt in October (5.2Mt in September), with 75 cargoes in October compared to 74 in September
- East Coast shipments remained steady at 2Mt in October (2Mt in September), with 29 cargoes compared to 30 in September
- CSG production from fields operated by the LNG producers was 113.7PJ in October, higher than 112.5PJ in September but 1.1PJ below exports including fuel gas
- East coast electricity demand increased by 2 per cent in October compared with a year earlier
- Power generation in October from coal decreased month on month, with generation down by 53GWh from a year earlier, and down in September
- The coal share of National Electricity Market (NEM) generation fell to 59 per cent, down from 60 per cent a year earlier. Gas’s overall share of the market increased slightly to 4.6 per cent from 4.2 per cent a year earlier.
For more information and reports into Australia’s domestic and export energy markets, visit the EnergyQuest website, here.