With Royal Dutch Shell’s Prelude floating LNG project in Western Australia and Ichthys, a massive project led by Japan’s Inpex in the north of Australia, about to be completed, Australia’s export capacity could hit 85 million tonnes next year, topping that of current leader Qatar.
* China monthly LNG imports set to breach 4 mln T for first time
* That comes as millions of households switch to gas from coal
* Domestic China LNG prices hit record
* Asian spot LNG prices at 3-year high of almost $10/mmBtu
* Rising Australia exports should ensure mkt remains well supplied
By Henning Gloystein
SINGAPORE, Nov 29 (Reuters) – China’s imports of liquefied natural gas (LNG) are set to hit record levels in November, with demand due to peak over the cold winter months as millions of households shift from burning coal for heating to using gas, driving up prices for the fuel.