LNG: Good news for U.S. LNG exporters
Posted: Sat Apr 29, 2017 9:26 am
The Australian government is considering restricting natural gas exports because of a domestic supply shortage. Natural gas prices have surged by 80 percent in the first quarter of this year and the Australian government wants to protect domestic consumers and manufacturers. The Prime Minister met with Royal Dutch Shell (NYSE: RDS.A) and Santos (ASX: STO), and is threatening to limit their exports if they do not provide sufficient gas to the Australian market. Santos’ stock price fell by more than 5 percent on the news. Australia has emerged as one of the world’s top LNG exporters in recent years due to a handful of massive projects constructed in the Northeast and Western Australia.