The LNG exports volume of Australia attained a value of 76,664,147.10 tonnes in 2020
The indicator recorded a historical growth (CAGR) of 11% between 2017 and 2020
The LNG exports volume of Australia recorded a YoY growth in 2020
The Australian gas utilities industry experienced very strong growth during the historic period despite a sharp mid-single digit decline in value during 2020. The industry is expected to contract in 2021, with strong growth anticipated over the rest of the forecast period, albeit at a much slower pace than the historic period prior to 2020.
The launch of LNG exports from Queensland in 2015 linked domestic gas prices - which were historically stable - to more volatile international oil and gas prices. This drove prices higher in 2016 and 2017, but prices started to decrease in late 2019 and 2020 when lower Asian prices helped drive falls in domestic spot prices. Wholesale electricity and gas prices in 2020 dropped to their lowest levels since 2015, according to the Australian Energy Regulator (AER). These savings were likely passed on to end consumers to help financially support consumers during a period of economic downturn caused by the COVID-19 pandemic in 2020.
Some utilities are integrated energy companies which produce gas as well as sell it to retailers. Origin energy owns shares in Australia Pacific LNG (APLNG) one of the largest producers of natural gas in eastern Australia and a major exporter of liquefied natural gas to Asia. Not only does it diversify the company’s revenue stream but also increases the group influence on the supply chain, thereby reducing supplier power.
By the end of 2020, global gas prices had rebounded in all markets to levels seen at the start of the year. However, the recovery of prices in Australia is expected to be slower Industry consumption volume increased with a mid-single digit CAGR between 2016 and 2020. LNG exporters increased production from already high levels to record output. At the same time, domestic demand fell as less gas was used for electricity generation. As a result of lower demand and oversupply of natural gas in Australia, prices will remain low.
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