The Institute for Energy Economics and Financial Analysis (IEEFA) has launched its Australian Gas and LNG Tracker, an interactive data tool that allows users to analyse Australian liquefied natural gas (LNG) flows into and out of the country.
The Australian Gas and LNG Tracker allows users to visualise Australia’s LNG infrastructure, demand and capacity, as well as export flows. It uses data compiled from a range of authoritative sources, including Kpler and the Australian Energy Market Operator (AEMO), along with IEEFA’s own analysis. The tracker will be updated every six months.
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The latest tracker data shows that most of the gas produced in Australia is utilised by the LNG export sector. It also highlights that in 2024, Australia’s largest LNG export markets were China (33%), Japan (32%), South Korea (15%) and Taiwan (10%), with all other countries accounting for about 9% of exports.
“Japan has historically been Australia’s largest LNG export market, but last year it was surpassed by China, which had dramatic import growth over the past decade,” IEEFA lead analyst Australian gas Joshua Runciman said.
“Australia’s LNG exports to China increased by 8% in 2024 following a 10% increase in 2023 and a 31% decrease in 2022. This compares with 6% and 10% decreases in exports to Japan in 2023 and 2024, respectively. Exports to South Korea and Taiwan increased by 12% and 1% respectively in 2024, partly offset by a 14% fall in supply to other markets,” he added.
Notably, China, Japan, South Korea and Taiwan accounted for 90% of Australia’s total LNG exports, highlighting the sector’s reliance on a few key markets.
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Runciman said, “We expect Australia’s contracted LNG volumes to fall considerably over the next 10 years. Without new LNG contracts, Australian LNG exporters will either be exposed to volatile LNG spot prices or reduced utilisation of their export facilities, which could potentially undermine LNG project financial returns.
“These are just some of the trends and developments highlighted by our new Australian Gas and LNG Tracker. This tool provides users with a graphic illustration of the current and future outlook for the industry in this country. With regular updates planned, our aim is for it to become a key source of information and insights on LNG in Australia.”
