Gas inquiry 2017-30

Chart 1 displays historical and forward short-term LNG netback prices. Annual simple average forward prices are displayed only for each complete calendar year.

Last updated on 16 April 2024. Next update on 1 May 2024.

Chart data LNG netback price chart data

Chart 2 displays forward medium-term LNG netback prices.

Chart data LNG netback price chart data

Note: The ACCC has published the LNG netback price series and accompanying information to provide general information only. It should not be regarded as financial or other professional advice. The series, prices and accompanying information are subject to the limitations as stated on this web page and in the ACCC’s Guide to the LNG netback price series.

Users of the LNG netback price series or the accompanying information should consider whether the method, inputs and assumptions used by the ACCC are appropriate for their circumstances. Users should also seek professional advice appropriate to their circumstances.

The ACCC shall not be liable for any loss or damage arising from any person’s reliance on or use of this series or any part of the series or the accompanying information.

• Historical LNG and freight prices: S&P Global Platts (Platts data © 2018 by S&P Global Platts, a division of S&P Global Inc. All rights reserved)

• LNG futures prices: Intercontinental Exchange

• Brent Crude oil futures prices: Intercontinental Exchange (via Bloomberg)

• LNG oil slope estimates: GaffneyCline

• Forward LNG freight prices: Argus Media Ltd and FTI Consulting

The ACCC has published a guide that outlines the ACCC’s method for calculating the prices in the series and how the series can be used in practice.

Guide to the LNG netback price series - September 2022 ( PDF 573.54 KB )

The ACCC also publishes a spreadsheet (updated with each update to the price series) that shows the prices underlying the price series, including a step-by-step calculation of forward LNG netback prices.

LNG netback price series - Public version - 16 April 2024 ( XLSX 953.79 KB )

The ACCC has published a report, commissioned by the ACCC from Core Energy, which includes estimates of gas production costs for proved and probable reserves in the east coast gas market (including reserves not currently in production) as at 31 December 2017.

Core Energy report for ACCC - November 2018 ( PDF 6.31 MB )

The ACCC publishes transportation prices, which can be used in conjunction with the LNG netback price series to estimate an indicative reference price of gas in locations other than Wallumbilla.

See: Transportation prices

Contact

The ACCC welcomes feedback on the LNG netback price series and the accompanying guide. Comments can be made in writing to gas.inquiry@accc.gov.au

Disclaimers

Platts

Users acknowledge and agree that Platts, its affiliates, or its licensors own the Platts Material used in the ACCC’s calculation of LNG netback prices, and all intellectual property rights therein, including, without limitation, any patent, trade secret, copyright, and trademark rights (whether or not such rights are registered).

Platts, its affiliates, and their respective third party licensors disclaim any and all warranties and representations, express or implied, including any warranties of merchantability or fitness for a particular purpose or use with respect to the Platts material, including any information or data contained therein or the results obtained by their use or the performance thereof. None of Platts, its affiliates, or their respective third party licensors guarantees the adequacy, accuracy, timeliness or completeness of the Platts material or any component thereof or of any communications with respect thereto. None of Platts, its affiliates or their respective third party licensors shall be subject to any damages or liability for any errors, omissions, interruptions, or delays in the Platts material. The Platts material and all components thereof are provided on an 'as is' basis and ACCC website users’ use of the Platts material is at their own risk.

Notwithstanding anything to the contrary, in no event whatsoever shall Platts, its affiliates or their respective third party licensors be liable for any indirect, special, incidental, punitive or consequential damages, including but not limited to, loss of profits, trading loss, lost time or goodwill, even if they have been advised of the possibility of such damages, whether in contract, tort (including negligence), strict liability or otherwise. None of Platts, its affiliates or their respective third party licensors shall be liable for any claims against ACCC website users by third parties.

Argus

Argus Media Ltd is the source of the confidential proprietary LNG forward freight cost estimates which the ACCC has republished on this web page. The ACCC obtains this data from Argus under licence. Argus makes no warranties, express or implied, as to the accuracy, adequacy, timeliness, or completeness of its data or the ACCC’s presentation of that data, or its fitness for any particular purpose. Argus shall not be liable for any loss or damage arising from any party’s reliance on Argus’ data, and disclaims any and all liability related to or arising out of use of the data to the full extent permissible by law.