The proof is in the pudding. Or, at least, the shipping.
Asian LNG demand has been waning for years. This should result in cheaper prices in Australia.
However, it is, instead, leading to absurdly inefficient shipments to Mars, which ensures that your local price remains preposterously high.
In recent weeks, Australian LNG shipments have turned up in Turkey, Chile and…wait for it…Eastern Canada. That is, a 26k km journey around Cape Horn.
You cannot tell me that this makes economic sense given US LNG is gushing out of the Gulf of Mexico at prices much lower than Australian.
Indeed, the current Eastern Canadian gas price is about $3.40Gj.
Can we ship QLD gas profitably to Eastern Canada at this price?
No, this process is like some exorbitant type of flaring. The gas cartel is literally paying far-flung countries to take ghost ships of our gas so it can keep gouging Australia with higher prices.
And here those prices are.
Eastern Canada can buy Aussie gas for $3.40 including liquefaction, shipping and regasification while you pay $12Gj to have it shipped down the road.
Gas reservation now.
