Asia Pacific: Production
In Australia, production growth remains weak compared with growth in exports, while in India there have been further year-on-year declines.
Australia’s gas production is estimated to have risen by around 7% year on year in H1, much lower than the growth seen in exports. Although domestic prices are rising and have spiked in some markets, revenues from contracted exports – which have been hit by low international LNG prices – are putting pressure on investments in exploration and production. This could limit future output and see constraints in the supply to Australia’s domestic market continue.