With full-year 2016 import data for the three East Asian countries which constitute the world’s top three LNG importers – Japan, South Korea, and China – now in, it is now clear that not only has Australia overtaken Qatar as top supplier, it has blown it out of the water.

Australia supplied a total of 39.1mn tons of LNG to the three importers in 2016, a 50% hike from 26.1mn tons in 2015. Usurped number one Qatar saw its volumes fall from 31.8mn t to 29.0mn t. Given that...