ICIS Places Australian LNG Supply at 4.9mT for the Whole of September

On the back of Chevron workers strike in Australia, ICIS has cut the output entirely for the later two weeks of Sept resulting in 0.7mT loss at Gorgon and 0.44mT at Wheatstone.

• ICIS places Australian LNG supply at 4.9mT for the whole of September, post-strike deduction. Last September was 7.1mT, as a reference.
• Australian weekly LNG exports fell by 7.53% on the week to 1.35mn tons for the week starting 4 September according to BNEF figures.
• Global LNG demand across H2 2023 is forecast to be 206.7mT according to September’s run of the ICIS LNG Global Supply & Demand Forecast, 1.9mT higher than its previous run. Supply is forecast to be 202mT for H2 2023, 1.6mT lower.
• ICIS now expects the global LNG market to be 4.8mT short in H2 2023. Last month it anticipated the market to be undersupplied by 1.3mT.