LNG

The value of Australia’s LNG exports is forecast to increase by around 36 percent over a two-year period to A$42.4 billion (US$31.3Bln) in 2019-20, driven by bigger volumes and higher prices as the crude oil pushes up the value of long-term contract shipments.

The Australian government said the nation’s LNG exports were valued at A$22 billion (US$17.2Bln) in 2016-2017 and will increase to A$36Bln (US28.2Bln) in 2018-2019, driven by higher export volumes and, to a lesser extent, higher prices.

Australian production of LNG is ramping up following the substantial increase in investment because some of this increase in capacity was possible due to developments in technology allowing new reserves to be accessed cost-effectively, the nation’s central bank said in its latest analysis.