LNG

The Australian government said the nation’s LNG export earnings are forecast to rise to A$90 billion (US$58.2Bln) in the current fiscal year from A$70Bln in the previous year as the fallout from Russia’s invasion of Ukraine continues to place upward pressure on LNG spot prices.

Export earnings from Australia’s 10 liquefied natural gas export facilities with nameplate capacity of 88 million tonnes per annum are expected to surge to A$50 billion (US$36Bln) in the current fiscal year from A$30Bln last year as oil-linked contract prices surge.