Trade surplus declines on lower iron ore price

Original article by Matthew Cranston
The Australian Financial Review – Page: 10 : 4-Oct-19

Official figures show that Australia recorded a trade surplus of $5.9bn in August, compared with a record $8bn in June. The total value of exports of goods and services fell by $1.4bn in August, and imports fell by $137m. A downturn in the price of iron and coal was the major contributor to the lower trade surplus. The value of iron ore exports declined by 12 per cent during the month, with the price of the steel input falling from a peak of $US120 per tonne to $US91. However, iron ore export volumes increased by 15 per cent.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, COMMONWEALTH SECURITIES LIMITED, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

Second NSW gas terminal critical

Original article by Perry Williams
The Australian Financial Review – Page: Online : 14-Aug-19

The New South Wales government is to give ‘critical status’ to a second proposed LNG import terminal for that state on 14 August. The $590 million gas plant on Newcastle’s Kooragang Island is being developed by South Korean company EPIK, and was proposed in December 2018. The first NSW LNG import terminal to be awarded ‘critical status’ is the Andrew Forrest-backed project at Port Kembla, which is due to become operational in late 2020. The EPIK terminal could be operational by 2022-23, and has the potential to supply up to 80 per cent of NSW’s gas needs.

CORPORATES
EPIK, AGL ENERGY LIMITED – ASX AGL

Super, massive trade surplus holds up economy

Original article by John Kehoe
The Australian Financial Review – Page: 1 & 6 : 7-Aug-19

Westpac’s chief economist Bill Evans says Australia could be set to post its first current account surplus since 1975, following the release of the latest balance of trade data. The nation’s trade surplus rose to a record $8.04bn in June and totalled $19.7bn for the June quarter, which is $5.2bn higher than the March quarter. The result was driven by strong growth in iron ore export volumes and the price of the steel input during the period. Australia’s overall export volumes increased by 1.4 per cent in June, while there was a 3.6 per cent decline in imports.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, JP MORGAN AUSTRALIA LIMITED, CAPITAL ECONOMICS LIMITED

LNG import plans pushed back to 2020

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 11 & 14 : 5-Feb-19

AGL Energy’s proposed import terminal at Crib Point in Victoria and Australian Industrial Energy’s planned LNG import terminal at Port Kembla in New South Wales are among five LNG import terminals flagged for Australia. However, Saul Kavonic of Credit Suisse says none of the five may be approved by the end of 2019. Labor’s energy spokesman Mark Butler says it has not ruled out LNG import terminals if it wins the upcoming election, while Australian Workers’ Union national secretary Daniel Walton has spoken out against importing LNG.

CORPORATES
AGL ENERGY LIMITED – ASX AGL, AUSTRALIAN INDUSTRIAL ENERGY PTY LTD, AUSTRALIAN LABOR PARTY, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES, CREDIT SUISSE (AUSTRALIA) LIMITED

Price doubts over Forrest LNG plan

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 14 : 27-Feb-18

BlueScope CEO Mark Vasella is supportive of plans by a venture backed by Andrew Forrest to import LNG into the New South Wales market. Port Kembla is one of three sites envisaged for the project, and Vasella says this would be the best choice, as it is close to customers and infrastructure. Energy Users Association of Australia head Andrew Richards has also welcomed news of the project, while a spokesperson for AGL, which is considering a similar import project in Victoria, said it backs the idea of new supply.

CORPORATES
BLUESCOPE STEEL LIMITED – ASX BSL, AGL ENERGY LIMITED – ASX AGL, ENERGY USERS ASSOCIATION OF AUSTRALIA, JERA, WOOD MACKENZIE, WOODSIDE PETROLEUM LIMITED – ASX WPL, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, WESFARMERS LIMITED – ASX WES, GLENCORE AUSTRALIA PTY LTD

Twiggy, Japan Inc plan to ship LNG to NSW

Original article by Matthew Stevens
The Australian Financial Review – Page: 1 & 2 : 26-Feb-18

Billionaire iron ore miner Andrew Forrest is believed to be the dominant partner in a new venture, Australian Industrial Energy. AIE, in which Japanese trading companies Marubeni and JERA are also involved, is planning to transport LNG to a yet-to-be decided port in New South Wales, where a re-gasification terminal would be established. It is understood that the volume of gas that the terminal would be capable of delivering is equivalent to about 70 per cent of total NSW demand.

CORPORATES
AUSTRALIAN INDUSTRIAL ENERGY, MARUBENI CORPORATION, JERA, SANTOS LIMITED – ASX STO, SHELL COMPANY OF AUSTRALIA LIMITED, SQUADRON ENERGY, DUET GROUP, TOYKO ELECTRIC POWER COMPANY, CHUBU ELECTRIC POWER COMPANY INCORPORATED, GENERAL ELECTRIC COMPANY, AUSTRALIAN ENERGY MARKET OPERATOR LIMITED, BLUESCOPE STEEL LIMITED – ASX BSL, BRICKWORKS LIMITED – ASX BKW, QENOS PLASTICS PTY LTD, INCITEC PIVOT LIMITED – ASX IPL, ORICA LIMITED – ASX ORI, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AGL ENERGY LIMITED – ASX AGL

Trade surplus heads back to $1b as iron ore shipments to China surge

Original article by Stephen Letts
abc.net.au – Page: Online : 6-Oct-17

Australia has recorded a trade surplus of $A989m for August in seasonally-adjusted terms. This compares with a surplus of $A808m for July. The surplus was bolstered by strong growth in both the price of iron ore and the steel input’s export volumes, although shipments of coal and LNG were lower than in July. The total value of Australia’s exports rose by one per cent to $A32.2bn, while the value of imports was steady at $A31.2bn.

CORPORATES
JP MORGAN AUSTRALIA LIMITED

AGL bid to import LNG heats up

Original article by Matt Chambers
The Australian – Page: 17 & 18 : 5-Jun-17

AGL Energy is expected to name the preferred site for its proposed LNG import terminal within a matter of weeks. Sites in South Australia, New South Wales and Victoria are all said to be under consideration for the terminal, which is expected to cost between $200 million and $A300 million, with Western Port Bay in Victoria considered a possible option. AGL CEO Andy Vesey is understood to want to commence construction of the terminal in 2019, and for it to be operational in 2020-21.

CORPORATES
AGL ENERGY LIMITED – ASX AGL, COUNCIL OF AUSTRALIAN GOVERNMENTS, CHENIERE ENERGY INCORPORATED, QIC LIMITED, ENERGYAUSTRALIA PTY LTD, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

AGL mulls gas import to beat supply crunch

Original article by Matt Chambers
The Australian – Page: 19 & 22 : 15-Nov-16

The high domestic price of gas in Australia’s southeastern states and supply constraints may prompt AGL Energy to source natural gas from regions such as Asia, Europe or the Middle East. AGL will undertake a feasibility study on the proposal to build an LNG import terminal and processing facility, which would capitalise on a global oversupply of LNG. Shell Australia chairman Andrew Smith put forward a similar suggestion earlier in 2016.

CORPORATES
AGL ENERGY LIMITED – ASX AGL, SHELL COMPANY OF AUSTRALIA LIMITED

High LNG exports help wipe fuel import costs

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 9 : 9-Feb-16

EnergyQuest estimates that strong growth in LNG exports reduced Australia’s petroleum deficit to about $A4m in December 2015. It was the smallest petroleum deficit since August 2010, and followed the commencement of production at the three LNG processing plants at Gladstone in Queensland. Australia’s LNG production rose by 48 per cent year-on-year in December, although the downturn in the crude oil price resulted in LNG export revenue falling by 0.5 per to $A1.575bn.

CORPORATES
ENERGYQUEST PTY LTD, WOODSIDE PETROLEUM LIMITED – ASX WPL, CONOCOPHILLIPS, CHEVRON CORPORATION