Nearly all of Australia's LNG exports were delivered to Asian markets in 2020–21 (Figure 8). China accounted for 40 per cent (equivalent to 31.1 Mt) of Australian LNG exports, followed by Japan (37 per cent, equivalent to 28.7 Mt) and the Republic of Korea (10 per cent, equivalent to 8.1 Mt).
Japan was Australia's top export market for LNG in the fiscal year 2022, with an export value of about 28.89 billion Australian dollars. Australia's exports of liquefied natural gas to Japan saw a sharp rise in value in 2022 compared to 2021, maintaining Japan's place as Australia's top LNG current importer.
At the same year, Refined Petroleum was the N/A most exported product in Australia. The main destination of Refined Petroleum exports from Australia are: Singapore ($241M), Japan ($175M), Malaysia ($81.3M), China ($56.7M), and South Korea ($43M).
Since Russia's invasion of Ukraine, European and Asian liquefied natural gas ("LNG") buyers have been competing for alternatives to Russian gas, which is causing prices to rise and prompting Australian producers to export more uncontracted gas.
Australia is a substantial net exporter of energy, including coal and natural gas, with net exports equating to over two-thirds of production. Around 90% of black coal energy production was exported in 2020-21, as was around 75% of domestic natural gas production and 83% of crude oil production.
Australia has the greatest LNG export capacity of any country worldwide. As of 2022, Australian terminals for liquefied natural gas exports had a combined capacity of 87.6 million metric tons per year.
In 2021 Australia's LNG exports reached a record high of 4,417 PJ (81.2 Mt), maintaining our status as the world's largest LNG exporter (Department of Industry, Science, Energy and Resources, 2022).
Global gas exporting countries 2021. Russia is the world's leading exporter of gas, exporting 201.7 billion cubic meters of gas via pipelines in 2021, and 39.6 billion cubic meters of liquefied natural gas (LNG).
The Most Affordable Countries for Fuel
The US has long imposed relatively low taxes on its fuel, which is a large part of the reason why prices are so much cheaper than other developed countries.
Australia has abundant energy resources and is a leading exporter of coal, uranium and LNG.
Believe it or not the gas natural resources are owned by all Australians with legal ownership vested through governments' rights over these assets. Yep that's right every Australian Citizen owns this resource and asset…….
Who is the biggest oil and gas producer in Australia? Woodside is Australia's largest operator of oil and gas production. Woodside is also the company behind Scarborough, currently one of Australia's most ambitious gas projects.
Australia will prohibit the import of oil, refined petroleum products, natural gas, coal and other energy products from Russia.
Japan took back top spot as Australia's top export destination with 31.2mn mt (39%) of Australian export volume, up 14.1% from 27.3mn mt (34%) in 2021. China fell to second highest export destination in 2022 after overtaking Japan in 2021.
Gas reserves
Conventional natural gas in eastern Australia is currently produced in a number of fields in the Gippsland, Otway, Cooper, Bass and Surat-Bowen basins. Conventional natural gas is also produced from the Carnarvon and Perth basins in Western Australia and the Bonaparte basin in the Northern Territory.
Australia Natural Gas: Imports was reported at 6,069.000 Cub m mn in Dec 2021 See the table below for more data.
At 3.82 U.S. dollars per gallon in October 2022, regular all formulation retail gasoline prices in the United States were considerably lower than in Hong Kong or the Central African Republic, which reported the highest gasoline prices in the world at the end of October 2022. Norway also ranked high this year.
Natural gas makes up the majority of energy use in Northern Territory (73%) and Western Australia (54%). LNG plants in these two jurisdictions consume natural gas as they liquefy it for export, and gas is also the majority source for electricity generation.
Gas Reserves in Australia
Australia has proven reserves equivalent to 43.9 times its annual consumption. This means it has about 44 years of gas left (at current consumption levels and excluding unproven reserves).
Value of LNG exports to China from Australia FY 2018-2022
In financial year 2022, LNG exports from Australia to China were valued at approximately 18.27 billion Australian dollars, rising from the previous year.
In the early 1970s Woodside discovered immense gas resources off the Western Australian coast, which could not only meet the state's domestic needs but also supply Asian markets. Export production began in the late 1980s.
Australia Pacific LNG is an incorporated company owned by ConocoPhillips (47.5%), Origin (27.5%) and Sinopec (25%).
AGN is part of the Australian Gas Infrastructure Group (AGIG), which owns and operates gas transmission and distribution pipelines across Australia.
In 2021, Australia's main importing competitors in Petroleum Gas were: China $56.6B. Japan $40.2B. Italy $30.5B.