LNG

Australian LNG exports reached a new record of 81.4 million tonnes in 2022 and the export revenue increased by 86 percent year-on-year to A$92.8 billion (US$63.4Bln) in the 12 months to the end of December because of much higher prices and Australia appeared to tie in volume terms as World No. 1 exporter along with Qatar and the US.

Australian LNG plant operator Santos, with stakes in two Australian plants and Papua New Guinea LNG, said the past quarter represented the “the trough for LNG prices”, with higher prices expected on oil-linked contract and Japan-Korea Marker spot prices through to the New Year.