Aussie LNG exports continue to climb

The volume of Australia’s LNG exports rose by 24% to 23.9 mt in fiscal year 2012-2013, helping boost the value of the country’s exports despite a fall in long-term, oil-indexed LNG prices, the government’s Bureau of Resources and Energy Economics said in a quarterly report released on Wednesday.

The value of Aussie LNG exports reached A$13.7 billion ($12.2 billion), from A$11.9 billion in 2011-2012. The figure is expected to continue climbing in 2013-2014 to A$15.8 billion, as the Australian dollar is forecast to remain lower and spot market prices are likely to stay high in the northern hemisphere’s winter months.