LNG

Australian liquefied natural gas plant operator Santos reported a decline in LNG sales income as production and Asia-Pacific prices fell and the Darwin plant continued to suffer feed-gas issues.

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.

Hancock Energy, the oil and gas company run by entrepreneur Gina Rinehart, has increased its bid for the Perth Basin natural gas company Warrego Energy by almost 30 percent and has now outbid mining company Mineral Resources for the prize of a gas field stake with LNG feed-gas potential.

Woodside, the Western Australian operator of two LNG plants and oil and gas assets, more than doubled quarterly sales revenue to US$1.53 billion as prices jumped and even as the company executed significant scheduled maintenance activities at both the North West Shelf plant and Pluto LNG.

Woodside Petroleum Acting Chief Executive Meg O’Neill said liquefied natural gas sales revenue in the first quarter of 2021 jumped 22 percent versus the end of 2020 and the Western Australian liquefaction plants operator achieved record spot LNG cargo prices.

Australian LNG shipments to North Asia from the world's largest exporter hit record levels for some nations in March and revenues increased from the previous month, led by Chinese demand for cargoes.

Jan 21 (LNGJ) - Australia’s Santos, which has stakes in Darwin LNG, the Gladstone plant in Queensland and at the Papua New Guinea plant operated by ExxonMobil, said in its fourth-quarter report that revenues rose 16 percent to US$922 million, primarily due to stronger LNG sales volumes. The average realised LNG price in the three months to the end of December was US$5.34 per million British thermal units versus US$4.27 per MMBtu in the previous three-month period and US$9.07 per MMBtu in the prior-year quarter.

   Santos reported that Gladstone LNG in Queensland shipped 101 cargoes in 2020 versus 87 in the previous year, while Darwin LNG dispatched 48 cargoes last year, two more than in 2019 and PNG LNG shipped 115 cargoes in 2020 compared with 111 in the previous year. “Santos LNG projects shipped 73 cargoes in the fourth quarter, of which six were spot cargoes, three from PNG, two from Darwin and one from GLNG,” said the Adelaide-based company.

Australian LNG plant operator Santos said it welcomed the New South Wales Independent Planning Commission (IPC) decision to give the go-ahead for its Narrabri Gas Project and thanked the local community for its strong support over many years.

Oil prices fell below $40 per barrel as street unrest in cities like Seattle led to concerns about US stability and the pace of the US economic recovery, while the nation’s LNG exports dropped to half of the previous week’s level, offset by pipeline natural gas exports to Mexico jumping more than 8 percent.

Western Australian LNG operator Woodside and Anglo-Australia commodities company BHP have decided to align their interests in the offshore Scarborough gas field to ease the path to expansion of the Pluto LNG plant on the Burrup Peninsula.