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.

Australian LNG operator Woodside Petroleum said the resource estimates of the Scarborough gas field offshore Western Australia, set to underpin its Pluto LNG plant expansion and the Burrup Peninsula Hub, have been increased by more than 50 percent.