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Australia LNG Exports Hit Record High
Feb 13, 2018

A report released recently by EnergyQuest, an Australian energy consultancy, shows that Australian LNG exports reached a record high of 56.8 million tonnes in 2017, an increase of 26.3% over 2016.

The report said that the increase in LNG exports in Australia was mainly due to the rising oil prices and the increase in demand in China. In 2017, Australia's LNG export to China increased to 17.5 million tons from 12.4 million tons in the previous year.

Graeme Bethune, chief executive of EnergyQuest Consulting, said China is now Australia's second largest LNG export market and Australia is China's largest supplier of liquefied natural gas.

The report shows that Australian LNG exports in 2017 amounted to 25.8 billion Australian dollars (1 US dollar or 1.255 Australian dollars), an increase of 44.1% over 2016. Graeme Bethune said LNG jumped from Australia's fifth largest exporter in 2016 to third largest exporter in 2017, surpassing gold and education.

The report shows that Australia is the world's second-largest LNG exporter, followed by Qatar. Japan is currently Australia's largest LNG export market, South Korea is the third largest market.