LNG

April 18 (LNGJ) - Chinese LNG imports totalled 19.78 million tonnes in the first three months of 2024, up 20.8 percent from the same three months of 2023, according to data from the Chinese General Administration of Customs. China imported 6.65MT of LNG in March alone, up 25.1 percent from March 2023. China’s main LNG suppliers to its network of 25 import terminals are Australia, Qatar, Malaysia, Indonesia and the Yamal plant in Arctic Russia.

   China’s oil and gas companies also increased production by 2.3 percent and 5.2 percent from January to March to 53.48MT and 63.2 billion cubic metres respectively. China’s daily average of oil and gas production in March reached 593,000 tonnes and 700 million cubic metres. Russia is the leading energy exporter to China, which purchased 107MT of oil from the Russians last year, up 24 percent, and 8MT of LNG. Gas supplies to China via the “Power of Siberia” pipeline have increased to a record 22.7 Bcm.

Chinese liquefied natural gas imports dropped by almost 12 percent in January and February compared with the same period of 2022.

Woodside Energy, the Western Australian LNG plant operator and oil and gas producer, posted total annual sales revenues of US$16.85 billion compared US$6.97Bln in 2021 as prices soared and progress was made on LNG and oil growth projects.

The Australian Government said its LNG export revenues are forecast to reach A$90 billion (US$60.2Bln) in 2022–23 on record high global energy prices and a lower Australian dollar.

Australia’s nine liquefied natural gas export plants shipped an estimated 6.66 million tonnes of LNG during the month of August compared with 6.20MT delivered in the previous month as Asian demand remained high, while prices dropped significantly month-on-month in the Australian domestic gas market.

Japan, the world's No. 1 liquefied natural gas importer, has stopped releasing monthly spot LNG prices contracted for or delivered to Japan that had been in force for seven years under the powerful Ministry of Economy, Trade and Industry (METI) and after being brought in to monitor price surges.

Demand for liquefied natural gas shipments from liquefaction plants in the Atlantic and Pacific Basins remained at reasonable levels as cargo liftings edged higher and North Asia spot prices increased again along with European gas values.

Royal Dutch Shell swung back to a much reduced profit in the third quarter after heavy write-downs in the previous quarter, reflecting lower realised prices for oil and LNG as cargo sales declined 9 percent due to the Prelude FLNG hull being shutdown offshore northwest Australia.

Sept 18 (LNGJ) - Inpex Corp., the Japanese energy company and owner of the Ichthys export plant at Bladin Point near the Australian port of Darwin, said it expected to cut jobs at the plant because of the economic slump. “The low oil price environment has accelerated the Inpex Australia review of its operations. The review will impact various roles across the operations division,” said Inpex. The Ichthys plant has 8.9 million tonnes per annum of capacity and shipped its first LNG cargo in 2018.

Australian utility AGL Energy is progressing with the LNG import terminal and has submitted for public comment its environmental impact statement for the facility at Crib Point on Westernport Bay, south of Melbourne in the state of Victoria.

The AGL environmental statement will be open for public comment until the 26th of August 2020.

Subject to clearance, AGL hopes to make a final investment decision on the Crib Point project around the end of this year.

A second LNG project aimed at bringing in more natural gas to another area of the nation threatened with gas supply shortages in the southeast is being developed by Australian Industrial Energy (AIE) in the state of New South Wales at Port Kembla, south of Sydney.

That project is backed by the world’s largest LNG purchaser, JERA Co. Inc. of Japan, the Japanese trading house Marubeni Corp and Australian mining billionaire Andrew Forrest’s Squadron Energy.

The Crib Point project in in Victoria has a price tag of A$300 million (US$208M) and involves a floating terminal moored at a newly constructed jetty for LNG carriers making deliveries.

The venture also includes a 55-kilometres natural gas pipeline to the Melbourne satellite town of Pakenham to connect to the Victorian gas grid.

AGL said construction could begin in 2021 and the project brought on stream by 2023, in time to help meet the shortfall of gas supply forecast for Australia’s southeast market.

The project faces opposition from environmental groups as well as residents concerned about potential risks to the Westernport region’s tourism.

The Crib Point proposal requires approval from both the Victorian state government and the federal government in Canberra.

The AGL plan is one of two similar projects proposed in Victoria following Viva Energy’s announcement in June 2020 of its ambitions to transform the site of its Geelong oil refinery into an energy hub that would include an LNG import capability.

AGL is based in Sydney and is one of the nation’s main utilities, offering electricity and gas services in NSW, Victoria, Queensland and South Australia.

It is also investing in renewables, peak-shaving and storage and has other major projects across Australia in addition to the LNG terminal.

AGL’ submission of its environmental report has coincided with a statement from AGL Chief Executive Brett Redman to his customers offering carbon-neutral energy and pledging the company’s commitment to the transition but at a logical pace that will keep the lights on.

“As Australia’s largest and oldest integrated electricity generator and retailer, we play a vital role in Australia’s energy market and the wider transition,” said Redman.

“Not only do our coal and gas fired generators ensure Australia’s lights remain on, they provide the financial strength for AGL to progress the transition,” he added.

“I am proud of the role our employees at all of our generation sites play, particularly as demonstrated during the recent crisis,” he stated.

“What the crisis has reinforced for us is that we need to continue to embrace change, innovate and move with speed in order to evolve as an organisation, drive transformation in our industry and provide the community with the type of essential service they need,” explained Redman.

“Many of our customers share our interest in shaping a more sustainable future. So, it’s important to provide them with options and that’s what our new carbon neutral product does - regardless of whether they are a family, a small business or a large commercial or industrial customer,” he said.

“To support this new product into the future AGL has embedded changes in our policies, supply chain and systems to ensure a carbon neutral option is offered every time a customer chooses an AGL electricity, gas or telecommunications product,” added Redman.

“We accept the science of climate change. The more difficult aspect that needs to be addressed is how we manage the transition in a way that reduces emissions and supports our customers and the community," said the CEO.

“I believe that Australia and Australians have the capability and the capacity to achieve transition in our energy market in a way that drives us forward, unlocks the potential of new technology and creates new industries and opportunities,” he concluded.