News: STO Oil at $70/barrel already a reality for some as Asian premium bites, page-2

ENERGY AUST 8Nov
'Gladstone cashes in on global gas price spike
Gladstone’s big gas export plants pumped out LNG at near record rates last month, drawing gas from as far as Victoria to take advantage of resurgent LNG spot prices, despite major maintenance works. The situation, combined with rising oil prices, has helped send Origin and Santos shares to two and one-year highs, respectively.

Luckily for the gas exporters, which are under political scrutiny as peak summer gas demand approaches amid forecasts of shortages, domestic spot prices have remained subdued over the traditionally low spring demand period, as Bass Strait volumes remain relatively high.
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Despite Shell’s QGC plant being down for scheduled maintenance for two weeks during the month, October exports were not far off the record of 1.75 million tonnes from December last year. This illustrates the potential for the big plants, built at a cost of more than $70 billion and not all able to operate fully in December, to export much more gas than they have been doing so far......'