A report released by Energy Quest on Jan. 16, an Australian energy consulting firm, shows that the export of liquefied natural gas in Australia reached 56.8 million tons, a record high in 2017 up 26.3% over 2016.
The report pointed out that the LNG export growth to Australia is mainly due to rising oil prices and the increase in demand in China. In 2017, the export of liquefied natural gas from Australia to China increased to 17.5 million tons from 12.4 million tons last year.
Graeme Bethune, chief executive of the consultancy, said China is now Australia's second largest LNG export market and Australia is China's largest supplier of liquefied natural gas.
The report shows that Australian LNG exports in 2017 amounted to A $ 25.8 billion (1 US dollar or 1.255 Australian dollars), an increase of 44.1% over 2016. Bethune said that liquefied natural gas exports from Australia's fifth-largest in 2016 to the third largest export in 2017, playing gold and education.
The report shows that Australia is the world's second-largest exporter of liquefied natural gas, followed by Qatar. Japan is currently Australia's largest export market for liquefied natural gas and South Korea is the third largest market.