According to The Australian Financial Review, Queensland's $80 billion LNG industry is set to enjoy a record month of revenues, topping $1.1 billion.
Exports from the three monster plants on Curtis Island in Gladstone – Shell's QCLNG, Origin Energy's Australia Pacific LNG and Santos's GLNG – hit a record annualised rate of 22.4 million tonnes in November, according to energy advisory firm Energy Edge.
Furthermore, the rallying Brent oil price in recent months has driven up the face value of LNG contracts, based on Energy Edge's calculations of LNG "netback prices".
"This also means that November will be the first month to break $1 billion in revenue," Energy Edge managing director Josh Stabler said.
The average spot gas price in the east states fell 12 per cent in October to $6.73 a gigajoule, while gas use in cities fell, JPMorgan said.
The bank is forecasting LNG export prices will reach $10.64 a gigajoule in the March quarter of 2018, up from $8.60 a gigajoule in the September quarter this year.
"If export prices move higher, following oil, domestic prices could again exceed $8/GJ and elevated electricity use could drive prices even higher."
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