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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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