Covid hits July LNG figures
PERTH (miningweekly.com) – Revenues from liquefied natural gas (LNG) sales in Australia were down 52% in July, compared with the same period last year, new data from Energy advisory EnergyQuest has shown.
While Australian LNG shipments in July were steady at 5.8-million tonnes, compared with the 5.9-million tonnes shipped in June, the lower oil prices were having a significant effect on revenues.
Average LNG import prices fell to $6.30/one-million British thermal units (MMBtu) for China in June from $8.58/MMBtu a year earlier, while average Australian LNG prices fell from $8.19/MMBtu for China in June 2019 to $6.80/MMBtu in June 2020.
The average price of Australian cargoes landed in Korea has risen, from $9.21/MMBtu to $9.54/MMBtu, but volumes have fallen significantly from 0.40-million tonnes in June 2019 to 0.24-million tonnes in June 2020.
In addition to the falling oil prices, the pandemic has also resulted in extended maintenance of LNG facilities and continued cargo deferrals, EnergyQuest noted, with the company estimating that around 21 Australian cargoes loaded during July were anchored offshore or are steaming slowly awaiting final destination orders, after 33 cargoes were delayed in June, and 41 were delayed in May.
Deliveries to major North Asian markets were lower compared with July 2019, with Australian projects delivering a total of 77 cargoes to China, Japan and Korea in July, down from 90 cargoes a year earlier. There were 10 fewer deliveries to China, one fewer delivery to Korea and two fewer deliveries to Japan.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation