Directional impact on forecast:
Bearish for spot LNG prices
Australia’s Wheatstone LNG plant started producing on 8 October, and the first cargo is scheduled to be shipped in the coming weeks.
Train 1 will provide ramp-up cargoes to the spot market before the peak winter demand season in Northeast Asia. This will limit the upside for spot LNG prices in the region over the coming months.
Wheatstone is located on Australia’s northwestern coast. The two planned trains have a nameplate capacity of approximately 4.5 mtpa...