EnergyQuest forecasts FY18 Australian LNG exports will grow 22.6%
EnergyQuest has forecast that Australian LNG exports will grow 22.6% in the 2017-2018 financial year (FY18), following “a robust performance in the 12 months to June 30 this year”, increasing to 63 MMt.
In its monthly LNG report for June, EnergyQuest found that Australia exceeded the 50 MMt barrier for the first time in the 2016-2017 financial year (FY17), exporting a total of 51.4 MMt, up more than 37% year-on-year, with a sales value of $22.3 B, up from $16.6 B year-on-year.
“Over FY17, production increased from almost every Australian LNG project, and both Western Australia and Queensland boosted their state outputs to higher levels,” EnergyQuest CEO Dr Graeme Bethune commented. “The exceptions were Darwin LNG (down 0.9 MMt) and QCLNG (down 0.7 MMt) compared to their previous 12 months performance.
“With rising Australian LNG export volumes, we are seeing the sector’s total export revenue increasing quickly, including record monthly levels towards year’s close.”