Rising prices a boon for Australia's coal and natural gas exporters

Coal prices are up by as much as 400 per cent from last year’s lows, good news for Australia’s coal producers such as the Collinsville coal mine in Queensland. PHOTO: NYTIMES
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SYDNEY - A global energy crisis has left much of the world jittery about soaring prices and a lack of supply, but it has led to a windfall for Australia with the price of two of its largest exports - coal and natural gas - soaring in recent weeks.

Coal prices are up by as much as 400 per cent from last year's lows, while liquefied natural gas (LNG) prices in Asia have hit record highs to as much as US$34 (S$45.80) per million British thermal units (mmBtu), compared with just under US$2 mmBtu in May last year.

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