LNG

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.

Australia, a main exporter of LNG to Asian nations, said the spot price was recovering at a modest rate and heading for former higher levels, only partially offsetting the lower prices on the bulk of LNG supply which is still in the grip of weak oil prices.