Supply & Demand

Australia’s Wheatstone LNG starts operations

Wheatstone’s first train will offer ramp-up cargoes to the spot market in time for the peak winter demand period in Northeast Asia Wheatstone’s first train will offer ramp-up cargoes to the spot market in time for the peak winter demand period in Northeast Asia.
By Catriona Scott 9 October 2017 0 27889
Wheatston LNG plant Wheatstone LNG, Australia. (Chevron)

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...