Wheatstone’s prolonged outage after the storm adds another layer of tightness to the global LNG market
🌪️ Chevron said the Wheatstone LNG facility in Western Australia will need several more weeks to return to full production after damage from Cyclone Narelle affected both the onshore plant and offshore infrastructure. Damage assessments and repairs are still ongoing, and the restart timeline remains tied to safety requirements.
📉 Wheatstone has capacity of 8.9 million tonnes per year, while Chevron’s Gorgon has already restored all three trains as of March 29, but disruptions at Wheatstone and Woodside’s North West Shelf are still keeping pressure on Australian LNG supply. That makes it harder for the market to return to a more stable balance anytime soon.
🌍 The impact goes beyond a single operational issue because it comes at a time when global LNG supply is already tight due to disruptions in the Middle East. With another key Australian export link facing an extended repair period, Asian LNG prices are likely to stay elevated in the near term.