Ann: 2021 Drilling Program Completed, page-54

Just posted a news clip on the Trading Thread.....worth reading
some highlight points here:

Australia has reaped lucrative gains from strong international energy prices and demand in 2021, with LNG export revenues surging by 25 per cent back close to $50 billion and China overtaking Japan as its largest customer.

Shipping data suggest that China replaced Japan as Australia’s largest LNG market last year, shrugging off fears that gas trade between the two countries could be caught up in the tensions that have hit commodities including coal and barley.

Deliveries to China are estimated to have jumped 7.1 per cent from 2020 to 32 million tonnes, while shipments to Japan sank 9.3 per cent as long-term supply contracts held by the North West Shelf venture and Darwin LNG expired.

“Growing LNG sales to China reflect the rapid growth in Chinese natural gas demand as the economy has recovered from the pandemic and also the push to reduce air pollution in major cities,” Dr Bethune said.

Investment in traditional energy is far from dead globally, but it appears to be in the Australian share market.

— Graeme Bethune

EnergyQuest found that all Australian projects except Prelude delivered LNG cargoes to China, with Conoco Phillips/Origin Energy APLNG project and the Shell-operated QCLNG project – both in Queensland– the biggest suppliers.

It noted that the share prices of key Australian LNG exporters Woodside, Santos and Origin had failed to reflect the surge in LNG revenues, unlike those of their rivals in Europe and the US.

Woodside ended the year down 3.6 per cent, while Santos was flat. That compares with more than 30 per cent gains by Shell and Chevron, and a 69 per cent surge by US-based Cheniere.

“Investment in traditional energy is far from dead globally, but it appears to be in the Australian share market,” Dr Bethune said.