Regional Focus: Australia to boost LNG exports despite domestic gas shortage

Australia is planning further increases in LNG production and exports over the next decade, despite quickly depleting reserves and a looming supply shortage in the domestic market. In recent years, supplies of Australian LNG to global markets have increased sharply, from 27.6 MMt (38.1 Bm3) in 2015 to approximately 67 MMt (92.5 Bm3) in 2018. Australia’s LNG producers plan to collectively displace Qatar from its leading position in the global LNG market. Australia is prepared to increase its LNG export volume to 100 MMt in the short term. This would help meet growing demand from China, which is expected to overtake Japan in the next few years to become the largest buyer of Australian LNG.