Australia’s LNG export revenues are forecast to decline from $69 billion in 2023–24 to $59 billion by 2025–26. Export volumes are expected to decrease slightly from a strong level in 2022–23 as some gas reserves start to deplete.

The fall in export earnings will be largely driven by lower LNG prices, which have already fallen significantly from the record levels of 2022.

New supply from the US and Qatar should help to bring LNG prices down from US$13.9/MMBtu in 2023 to US$11.5/MMBtu by 2026.

(source: https://www.industry.gov.au/publications/resources-and-energy-quarterly-june-2024)