Gas Processing is Produced by Gulf Publishing Company

Your source for technology information for the gas processing industry


Australia closing in on Qatar as world's top LNG exporter

SYDNEY (Reuters) — Australia expects to increase exports of LNG by 16% from mid-2018 as $180 B in new projects hit their stride, nearly catching up with Qatar, the world’s top supplier.

Inpex Ichthys Small
 Inpex Corp’s Ichthys. Photo courtesy of Inpex Corp.

Rising LNG exports coupled with higher prices for steel-making commodities and thermal coal should see Australia’s overall resource and energy export earnings increase 2% in the year to end-June 2018, to a record $165 B, the Department of Industry, Innovation and Science said on Friday.

Australia’s LNG exports are forecast to climb to 74 MMt in the year to end-June 2019, from 63.8 MMt forecast for this year and 52 MMt last year.

By comparison, Qatar last year exported 77.6 MMt.

The rise in Australian exports will be underpinned by higher output at the Gorgon project, run by Chevron Corp, as well as the completion of three remaining LNG projects: Chevron’s Wheatstone, Inpex Corp’s Ichthys, and Royal Dutch Shell’s Prelude.

Those three projects will add around 21 MMt to Australia’s LNG export capacity, taking total capacity to around 88 MMt.

Japan, South Korea and China are set to absorb the extra volumes, the department said in its quarterly commodities report.

“While prospects for growth in the imports of Japan and South Korea are limited, Australian producers are expected to capture an increasing share of both country’s imports,” the department said.

The department raised its iron ore price forecast for 2017 about 3% to an average $64/t, and increased its coking coal price forecast by 6 percent to $203.30/t from its June outlook.

Coking coal contract prices for the third and fourth quarters are forecast to be much lower than the first half, it said, driven by higher production in China and a return to normal in Australia after a cyclone cut output earlier this year.

Iron ore, Australia’s top export earner and dominated by miners Rio Tinto and BHP, has rebounded from a low of $47/t in mid-June, to average $65/t in the September quarter.

“The iron ore price has been boosted by strong steel margins in China, which has resulted in increased steel production and mill restocking of inputs,” the department said.

Forecast exports of iron ore were decreased slightly to 862.3 MMt in 2017–2018 and to 886.7 MMt the following year.

Reporting by James Regan; Editing by Sonali Paul


Copyright © 2016. All market data is provided by Barchart Market Data Solutions. Futures: at least 10 minute delayed. Information is provided 'as is' and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.

                                  Cmegroupicon                                     Icelogo

FEATURED COLUMNS

Editorial comment
-Adrienne Blume
The ongoing development of shale gas resources in the US has spurred infrastructure construction for both natural gas processing capacity and LNG export terminals.
Regional focus
-Eugene Gerden
Russian natural gas monopoly Gazprom is strengthening its presence in the gas market of the Middle East through the planned construction of an 11-metric-MMtpy–12-metric-MMtpy LNG plant in Iran.


ADIP ULTRA: ADIP-X Reimagined

View on Demand

Shell Global Solutions International BV (Shell) is launching the improved process technology ADIP ULTRA, for cost-effective removal of CO2 down to <50ppmv. The ADIP ULTRA process is applicable in gas plants, LNG, pre-NGL, refinery HMUs and gasification syngas.
Why attend?
•Discover how looking back at decades of ADIP and ADIP-X operational experience has led to the cost effective ADIP ULTRA process
•Understand how Shell’s new absorption column internals can further enhance process performance
•Learn how Shell is a reliable partner of choice who helps you get the most out of your unit
•An opportunity to ask questions to Shell’s technical experts

May 9, 2017 9am UTC

View on Demand

 

Please read our Term and Conditions, Cookies Policy, and Privacy Policy before using the site. All material subject to strictly enforced copyright laws.
© 2015 Gulf Publishing Company.