Qatar has lost the title of the world's number one exporter of liquefied natural gas to Australia, as the United States continues to pursue them, according to the latest estimates.
Forbes said that while LNG spot prices have fallen since the fourth quarter of 2018 in lucrative Asian markets, a series of Australian projects such as the Prelude facility and the Wheatstone plant continue to increase production.
The first LNG shipment at Royal Dutch Shell's Prelude project in Western Australia was sent to customers in Asia in June.
Forbes quoted the US Energy Information Administration as saying that the new facilities in Australia raised its total export capacity from 2.6 billion cubic feet per day in 2011 to 11.4 billion cubic feet per day this year.
The administration also believes that Australia has already surpassed Qatar in the production of LNG, and often, if not continuously, exports more LNG than its competitor in the Middle East between the fourth quarter of 2018 and the second quarter of this year.
US exports of liquefied natural gas (LNG) continue to rise, despite a trade dispute between Washington and Beijing, Forbes said. U.S. LNG exports hit a record high in July 2019, when exports averaged 6 billion cubic feet per day, equivalent to 7 percent of total US dry natural gas production.
On August 23, CNBC reported that Qatar would lose its title as the world's largest exporter of liquefied natural gas (LNG) over the next year.
The Australian government said in a recent report that Australia and Qatar continued to scramble for the title of the world's largest LNG exporter over the first five months of 2019.Australia exported more LNG from Qatar in November 2018 and April 2019.