Japan still on top as Australia’s largest LNG importer
According to a recent monthly report by energy consultancy EnergyQuest, Japan remain on top as the largest importer of Australia’s LNG.
The report indicates that Japan makes up 39% of the country’s total exports, which equates to 29.5 million tons of Australian LNG.
The gap between first and second is slowly closing though. Australia’s increasing import demand has seen supply grow 46% in China’s LNG in the 2019 financial year, and the Australian import market remains the biggest supplier to China to date.
Queensland had the largest export activity, with 57% of Australian LNG exports to China leaving from the marina city. The work by Queensland has been beneficial as Chinese companies have started to make huge investments in Queensland LNG, and the city supplied 27% of all China’s LNG imports alone.
Another country becoming an increasingly important customer for Australia’s LNG exports is Korea. They were influential in 10% of Australian exports across the financial year of 2019.
The large growth of imports to Japan can only be positive for the Qatar LNG network, with Qatar aiming to raise their capacity from 78 to 110 MTPA in future years. Increasing liquefaction in the North Field, as well as building four new mega-trains is part of their plan, alongside further growth in foreign partnerships and collaborations.
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