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Gladstone LNG export volumes fall to an eight month low of 1.88 million mt

Exports of LNG from Australia’s Port of Gladstone eased to an eight-month low in May after settling at the highest level in April over the January-April period, data collected from the Gladstone Ports Corporation showed June 7.

The May figure was 1.88 million mt, which remained up year on year by 9%, but was down 6% month on month at the lowest monthly figure seen since 1.84 million mt in September of last year.

For January-May, LNG exports from Gladstone of amounted to 9.74 million mt, which is an annualized rate of 23.56 million. If eventuated, that would be the most LNG exported from Gladstone in a single year — beating the previous record of 22.37 million mt set in 2020, the data showed.

Gladstone’s LNG export terminals are the 9 million mt/year nameplate capacity Origin-ConocoPhillips-Sinopec Australia Pacific LNG, the 7.8 million mt/year nameplate Santos-led Gladstone LNG, and Shell’s 8.5 million mt/year Queensland Curtis LNG.

This year will be the fifth full year of all six of Gladstone’s LNG trains being online.

Exports from Gladstone to China fell for the second consecutive month to a four-month low of 1.32 million mt — which was up 12% year on year and down 4% month on month, according to the data.

Volumes to Japan fell for the fifth consecutive month to an 11-month low of 64,286 mt, with that having edged 2% lower year on year and 1% month on month, it said.

LNG exports to Malaysia were also down, falling for the second month to 124,927 mt. That was down 49% year on year and 33% month on month.

South Korea was sent 231,223 mt, rising 2% year on year while dropping 22% month on month. And volumes to Singapore were at a seven-month high of 136,091 mt — up from zero the same time last year and 88% stronger than April, the GPC figures showed.
Source: Platts

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