EnergyQuest says Australian LNG cargoes continued to be delayed.

The Australian energy advisory firm says 33 of 85 cargoes are either sitting in anchorage or steaming in circles before they reach their destinations.

Its latest report estimates that Australia exported 5.9 Mt of LNG in June, a drop from the May total of 6.5 Mt and 93 cargoes.

EnergyQuest has also outlined that lower oil prices are hitting Australian LNG, leading to extended maintenance, cargo deferrals, lower prices and asset write-downs.

Woodside and Shell have announced impairments in relation to their Australian LNG assets as a result.

“Additional contributors to the write-downs are increased longer term demand uncertainty impacted by the COVID-19 pandemic and macroeconomic dynamics, and increased risk of higher carbon pricing,” EnergyQuest’s latest report states.