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Asia: Australian 2010 gas production at all-time high of 1,999 Pj: report

https://www.chemnet.com   Mar 09,2011 Platts
Australian natural gas production reached an all-time high of 1,999 petajoules (1.8 trillion cubic feet) in 2010, up 5.1% year on year, according to a report from energy economics group EnergyQuest released Tuesday.

LNG production also hit a new record, up 6.2% year on year at 19.8 million mt, the group said. That was due to the ramp-up of output at North West Shelf LNG's fifth production train, it added.

The value of LNG exports hit a record A$9.46 billion ($9.58 billion), up 24% year on year, the group said.

"The LNG momentum looks set to continue in 2011 ... Altogether there are seven Australasian LNG projects aiming for final investment decisions in 2011, with combined capacity of around 40 million mt/year," EnergyQuest Chief Executive Officer Graeme Bethune said.

Australian domestic gas production increased 2.7% in 2010 to a record 1060 Pj, the group said. East coast coalseam gas production saw a particularly large increase, up to 222 Pj, more than five times the previous year's level.

The Australian Bureau of Agricultural and Resource Economics and Sciences last week forecast LNG production of 18.6 million mt in the fiscal year ending June 30, 2011. Gas production was expected to rise 11% to 54.3 billion cubic meters in fiscal 2010-11, it said.

The bureau has yet to release official production figures for fourth quarter 2010. --Jonty Rushforth,
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