Australia’s LNG exports hit a record high

Australia’s LNG export revenues hit a record high of A$93 billion in 2022–23 but are forecast to ease to A$71 billion in 2023–24 as the spike in global energy prices set off by the Russia/Ukraine war unwinds. See pages 74-85 in the attached slide pack for the LNG / natural gas section Asian LNG spot prices stabilised at around US$12 per MMBtu over the September quarter as European storage inventories neared capacity. Volatility increased marginally at the end of the quarter due to industrial action (since resolved) at Australian export facilities. Global LNG markets are likely to tighten over the December […]