Imports/Exports

Australia is a major exporter of LNG. It has three LNG liquefaction plants: the North West Shelf LNG, Darwin and Pluto. In 2012, Australia’s LNG exports amounted to 19.8 mtpa (27.8 bcm) and accounted for 8% of global LNG trade. There are eight LNG plants committed to building or under construction which have a combined capacity of 61.2 mtpa.

Australia is well positioned to supply the Asian market; it already supplies the Japanese and Korean markets, and will be able to meet the needs of the growing Chinese market. Singapore is building an LNG import terminal and expected to receive its first cargo in 2013. The proximity of Australia to these markets means it should be able to provide LNG at a lower cost than the Middle East.

The BP Statistical Review of World Energy 2013 records Australia importing around 10.9 bcm in 2012, with imports beginning in 2006. This appears to be the gas produced from the joint development area in the Timor Sea, shared with East Timor. The Bayu Undan field was the first producing field in this area and began production in 2006.