Australian liquefied natural gas (LNG) exports peaked at just over A$90 billion in 2022-23 following Russia’s invasion of Ukraine, easing to $65 billion in 2024-25. That placed Australia third in value of LNG exports, behind the United States and Qatar.
More recently, the US-Iran war has delivered a $6 billion boost to Australian LNG exports for the last fiscal year, with 2026-27 forecasts also revised upward by $21 billion, according to government estimates.
