The Australian Department of Industry, Innovation and Science expects exports of 74 Mt LNG for the fiscal year 2018-2019. In 2016-2017, they reached 52 Mt according to the Department. Their value is likely to increase from A$22bn (around US$17bn) over 2016-2017 up to A$35bn (US$27bn) in 2017-2018.
Since the startup of the Gorgon LNG's third train in march 2017 and the commissioning of Wheatstone LNG's first train in October 2017, this figure is likely to increase. Besides, the Wheatstone LNG second train is planned for March-May 2018 while Inpex's US$37bn Ichthys project is expected for 2018 as well. With the completion of all the 10 LNG key projects, the Australian LNG total export capacity is forecasted to reach 88 Mt.
LNG is expected to overtake metallurgical coal as Australia’s second largest resource and energy export in 2018-2019 onwards. LNG contract prices are also likely to increase in line with oil prices.
Source: Department of Industry, Innovation and Science
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