j.p. 摩根-澳大利亚-天然气行业-全球液化分析：澳大利亚国内天然气短缺影响全球液化天然气

《j.p. 摩根-澳大利亚-天然气行业-全球液化分析：澳大利亚国内天然气短缺影响全球液化天然气》由会员上传分享，免费在线阅读，更多相关内容在行业资料-天天文库。

1、Completed10Oct201705:50PMAEDTDisseminated10Oct201706:03PMAEDTGlobalEquityResearch10October2017GlobalLNGanalyzerAustraliandomesticgasshortfallsimpactingglobalLNGSeptemberwasastrongmonthforLNGwithspotpricesrising34%andnowAustraliaaboveoil-linkedcontractprices.ThestartupofWheatstoneannounced

2、byOil&GasChevronyesterdayisthenextstepinAustraliabecomingtheworld’slargestACMarkBusuttilLNGproducer.However,concernsoverdomesticgasavailabilitycontinueto(61-2)9003-8619threatenLNGsupplyfromtheEastCoastofAustralia.Spotmarketstightenedmark.busuttil@jpmorgan.comwiththeAustralianFederalGovern

3、ment’sthreatstocurbtheabilityofEastBloombergJPMABUSUTTILCoastLNGproducerstosellintothespotmarketandtheproducers’J.P.MorganSecuritiesAustraliaLimitedsubsequentguaranteestoensuredomesticdemandismet.Wei-WengChenGlobalLNGproductionfellinSeptember2017:WeestimateLNG(61-2)90036262wei-weng.c

4、hen@jpmorgan.comproductiongloballywas280Mt(annualized),downfrom292MtinAugustJ.P.MorganSecuritiesAustraliaLimited2017.ThemajorityoftheproductiondeclinescamefromAustraliaandAsiawereoffsetbygrowthfromSabinePassintheUS.ScottLDarling(852)28008578AustralianLNGproductiondown16%:Weestimateproduc

5、tionfromscott.darling@jpmorgan.comAustralianprojectstotaled50Mt(annualized),downfrom59MtinAugustJ.P.MorganSecurities(AsiaPacific)Limited2017.NorthWestShelf(-28%)andGorgon(-38%)sawlargedeclines.PhilGresh,CFANeitherWoodsidenorChevronhaveflaggedmaintenanceintheperiod,so(1-212)622-4861thesede

6、clinescouldbeduetotimingofcargoesorpotentialoutage.phil.m.gresh@jpmorgan.comJ.P.MorganSecuritiesLLCSpotpriceup34%,tradingatan16%slope:TheAsianspotpricerose34%toUS$7.95/mmBtuinSeptember2017.TheincreasewasduetoChristyanFMalek(44-20)7134-9188unexpectedlystrongChinesedemandaheadofwinterwitht

7、hegovernmentchristyan.f.malek@jpmorgan.commovinghouseholdsawayfromcoaltogasheatingtotacklepollution;asJ.P.MorganSecuritiesplcwellasfallsinglobalproductionandtheprospectoftheAustralianJeremyTonet,CFAgovernmentlimitingexportstodirectgastothedomesticgasmarket.(1-212)62