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LNG: Australia Edges Towards LNG Imports in 2025: Argus

LNG
Energy BulletsBulletPower BulletsCommodities

Australia, once the world's largest LNG exporter, is moving closer to importing LNG in 2025, Argus said.

  • This follows years of supply warnings from the Australian Energy Market Operator.
  • Anti-gas lobbying, new emissions laws, slumping exploration, and rising costs are blamed for production forecasts falling below demand levels.
  • Debate continues about the rationale and demand for LNG, with no term sales signed yet.
  • The purchase of the proposed Outer Harbor LNG project has raised expectations for deals in 2025 to alleviate winter shortfalls from 2026.
  • There is limited storage capacity, and no new major fields are under near-term development, so increasing pipeline capacity from Queensland could be critical.
  • LNG imports cost up to 25% more than pipeline gas, Argus said.
  • Looking at exports, Santos will restart production at the 3.7m mtpa Darwin LNG after commissioning the Barossa field in 2025.
  • Other Australian terminals will produce steady volumes in 2025, Argus added.
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Australia, once the world's largest LNG exporter, is moving closer to importing LNG in 2025, Argus said.

  • This follows years of supply warnings from the Australian Energy Market Operator.
  • Anti-gas lobbying, new emissions laws, slumping exploration, and rising costs are blamed for production forecasts falling below demand levels.
  • Debate continues about the rationale and demand for LNG, with no term sales signed yet.
  • The purchase of the proposed Outer Harbor LNG project has raised expectations for deals in 2025 to alleviate winter shortfalls from 2026.
  • There is limited storage capacity, and no new major fields are under near-term development, so increasing pipeline capacity from Queensland could be critical.
  • LNG imports cost up to 25% more than pipeline gas, Argus said.
  • Looking at exports, Santos will restart production at the 3.7m mtpa Darwin LNG after commissioning the Barossa field in 2025.
  • Other Australian terminals will produce steady volumes in 2025, Argus added.