Market Tracker Supplement - 25 September 2023
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Market Tracker - 25 September, 2023
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Agreement Prevents LNG Output Drop at Wheatstone, Gorgon LNG
The Australian Offshore Alliance has reached an agreement with Chevron brokered by Australia’s Fair Work Commission that prevents potential production disruptions at Wheatstone and Gorgon LNG. Together, the two plants account for a significant proportion of global capacity, causing market jitters since August. Nevertheless, our data shows that Wheatstone LNG increased production whilst output at Gorgon remained steady. A net decrease in Australian exports in the month to date is due to scheduled maintenance at NWS LNG.
Monthly Data Supplement - September 2023
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Monthly Data - September 2023
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Monthly Data - September 2023
Global LNG exports in August amounted to 33.56mmt and thus constituted a slight decrease by 0.55mmt (-2 percent) from 34.11mmt in July. Among the three most significant exporters in August, the United States faced a decline of 0.22mmt (-3 percent) with 7.64mmt in shipments compared to 7.86mmt in July. Concurrently, Qatar faced a more significant decline of 0.62mmt (-8 percent) with 6.76mmt in shipments compared to 7.38mmt in July. These export reductions were cushioned, however, by an export increase of 0.15mmt from Australia.
Market Tracker Supplement - 18 September 2023
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Market Tracker - 18 September, 2023
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Imminent Fourth Chinese LNG Terminal Commissioning this Year
Chinese LNG import capacity is gearing up for its fourth expansion this year. Beijing Gas Group’s Tianjin Binhai LNG project received its first cargo aboard the QCLNG-derived Maran Gas Pericles, our data showed on Monday. The 6.20mtpa terminal is gearing up for commercial operations by around October and is earmarked to ensure backstop gas supply for Beijing and Hebei Province at times of peak demand. Chinese LNG demand has begun to exceed that of Japan consistently since May as provincial and national Five-Year Plans push for significant improvements in pipeline gas uptake.
Market Tracker Supplement - 11 September 2023
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