Australia: Queensland LNG demand increased in Q4

East coast wholesale gas prices continue to trend downwards, averaging $10.83 per gigajoule (GJ) for the quarter, significantly lower than Q4 2022’s $17.79/GJ, though slightly higher than $10.41/GJ in Q3 2022. Gas demand increased by 3% this quarter compared to Q4 2022, solely driven by higher demand for Queensland LNG exports. Domestic gas supply shifts observed in Q2 and Q3 2023 continued, again mainly driven by declining production from gas fields connected to the Longford Gas Plant in Victoria. Production from Longford fell by 20 PJ compared to Q4 2022, and it has now been overtaken by QCLNG’s Woleebee Creek […]