docFinder alert PLS PLS
Week of August 12th, 2013Volume 3, No. 8

Australia Leading LNG Growth

~62 MTPA of LNG coming online between 2014 - 2017


Australia Overtakes Qatar

Adds >60 MTPA Post 2013

 February 20, 2013


Full Presentation



2019: Australia Becomes No. 1

~24% of Global Production

 May 15, 2013


Full Presentation


       In tandem with docFinder’s ability to provide quick, efficient and comprehensive data access, this docFinder alert researches Australia's dominance in near term LNG supply growth. Earlier this year, BP predicted that Australia will overtake Qatar as the largest LNG supplier towards the end of this decade. This change in LNG exporter rankings is vividly shown in the top left slide by focusing on Australian LNG growth between 2014 and 2018. The slide also shows a 168 MTPA LNG supply gap between 2017 and 2025 that is destined to be filled by a host of global gas suppliers (e.g. Mozambique, USA, Canada, Israel/Cyprus, Russia and Papua New Guinea).

       Driving Australia's growth are seven LNG projects under construction costing more than $160 billion and designed to deliver ~62 MTPA (or 8.2 Bcfpd). According to Triple Double Advisors, this additional supply will boost Australia's production for LNG from 2.9 Bcfpd in 2014 to 11.1 Bcfpd in 2019 giving Australia 24% of the global LNG supply market of 46.2 Bcfpd.

Australia: 7 LNG Projects Currently Under Construction > 60 MTPA in LNG Capacity

LNG Project Name Sponsors   PSD* Capacity
Queensland Curtis LNG   BG Group (Operator), CNOOC, Tokyo Gas   2014 8.5 MTPA
Gorgon Chevron (Operator), Shell, Exxon, Osaka Gas, Tokyo Gas, Chubu Electric   2015 15.6 MTPA
Australia Pacific LNG Origin (Upstream Operator), ConocoPhillips (Downstream Operator), Sinopec    2015 9.0 MTPA
Gladstone LNG Santos (Operator), Petronas, Total, Korea Gas   2015 7.8 MTPA
Wheatstone Chevron (Operator), Apache, KUFPEC, Shell, Kyushu Electric, TEPCO   2016 8.9 MTPA
Ichthys INPEX (Operator), Total, Tokyo Gas, Osaka Gas, Chubu Electric, Toho Gas, CPC   2016 8.4 MTPA
Prelude Floating LNG Shell (Operator), INPEX, Koreas Gas, CPC   2017 3.6 MTPA
* PSD = Projected Start Date                                                                                                                            Total     61.8 MTPA
 Sources: PLS Inc. docFinder Database and Project Websites. 

       In the feature slides below PLS highlights five of the seven projects and their operators.

       The most technologically advanced project on this list is Shell's Prelude - the first Floating Liquefied Natural Gas  (FLNG) facility. Measuring 1600 feet by 240 feet, the ship will be the world's largest floating facility. Since the FID in May 2011, three new partners including INPEX (17.5%), Korea Gas (10%) and CPC Taiwan (5%) have joined the project. Construction on the 3.6 MTPA facility began in October 2012 at Samsung's ship yards in South Korea and is expected to be online in 2017. The ~$12 billion Prelude FLNG will gather supply from Prelude and Concerto fields in Australia's Browse Basin.

       Also in Browse Basin is the INPEX operated Ichthys project. With more than twice the capacity of the Prelude, Ichthys has a budget of $34 billion and is responsible for the biggest project financing deal in the international markets of $20 billion. As the table shows six other companies including Total (30%), CPC Taiwan (2.625%), Tokyo Gas (1.575%), Osaka Gas (1.2%), Chubu Electric (0.735%) and Toho Gas (0.42%) also hold stake in this project. While the Ichthys is primarily stationed onshore near Darwin, Australia, the project does make use of two large offshore facilities including an FPSO vessel and a Central Processing Facility (CPF) with the world's largest semi-submersible platform.


More HOT slides and data below. 

       Shown below are slides for the other five LNG projects operated by major international players like BG Group, Chevron and ConocoPhillips and Australian major Santos. The slides bring you updates on the projects and more details on how Australia intends to reach the No. 1 LNG exporter position.


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featured.slides from docFinder

Slide Slide Slide Slide

Gorgon & Wheatstone


August 14, 2013


APLNG Project


August 2, 2013


QCLNG Project

BG Group

July 26, 2013


Gladstone LNG Project


June 13, 2013


At 15.6 MTPA in LNG capacity, Gorgon is Australia's largest single resource project currently budgeted at $52 billion. As this slide shows, 67% of the project is completed and set to supply 1st LNG in 2015. Chevron's, Gorgon project is also the world's largest CO2 injection project. In additiona, Chevron has a 2nd LNG facility under construction called Wheatstone LNG. Wheatstone is designed for 8.9 MTPA in capacity and is due online in 2016. Both projects have international majors like Shell, ExxonMobil and Apache as big stake holders as well as Asian players with smaller stakes in the JV.


The Australia Pacific LNG project is one of three LNG projects based in Australia's Queensland state. Origin (37.5%) and ConocoPhillips (37.5%) have been affiliated with the $20+ billion project from the very start and Sinopec (25%) joined them in April 2011. While ConocoPhillips is in charge of operating the LNG facility, Origin is the upstream operator of the project that feeds on coal seam gas. As of March, the upstream project is 35% complete and downstream is 37% done. With progress on track, the 9 MTPA project is ready to send out the first LNG train in mid-2015 and the second train in early 2016.


The first of Australia's 7 projects is the BG Group operated Queensland Curtis LNG facility, also known as QCLNG. As the slide above shows, BG is on track to have the project online, producing from more than 2,000 wells, for delivery in H2 2014. The 8.5 MTPA project is a JV among BG Group (73.7%), CNOOC (25%) and Tokyo Gas (1.3%). The partners awarded the construction contract to Bechtel, who is responsible for most construction on Curtis Island; the site for QCLNG, APLNG and GLNG. Sponsors of the $20.4 billion investment expect it to be strongly cash positive post 2015.


As of June, the Santos operated $18.5 billion Gladstone LNG facility is more than halfway to completion in 2015. Like the other six projects, GLNG also has a consortium of companies including Total (27.5%), Korea Gas (27.5%) and Petronas (15%) as partners and Santos (30%) as operator. Out of the 7.8 MTPA capacity, Santos has contracted 7.2 MTPA to its JV partners Korea Gas and Petronas as part of a 20 year long binding contract. Similar to the other two LNG projects based in Queensland (APLNG and QCLNG), the Gladstone LNG project is also supplied by coal seam gas.


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featured.transactions from PLS global M&A database

10/31/12CNOOC acquires additional interest in QCLNG from BG$1,930 MM
03/16/12Inpex acquires 17.5% interest in Prelude FLNG project from Shell$955 MM
02/25/11Sinopec acquires 15% stake in APLNG project from Origin and ConocoPhillips$1,500 MM
09/07/08ConocoPhillips acquires 50% interest in Origin Energy's CBM assets in Queensland$7,955 MM

Source: PLS M&A Database