Record LNG Supply Increase Expected to Impact Global Prices Amid New Projects by Woodside and Santos
A record increase in liquefied natural gas (LNG) supply is expected to impact global gas markets this year, potentially driving prices down. Over the next three years, approximately 150 million tonnes per year of new LNG, primarily from rising US exports, will enter the market, coinciding with the launch of new plants by Woodside and Santos, while raising concerns about a planned project in Papua New Guinea.
Theia Market Signal Identification - AI Assisted
A significant increase in LNG supply is anticipated to begin affecting global gas markets this year, potentially lowering prices. Approximately 150 million tonnes per year of LNG, over one-third of the current market, is expected within the next three years, largely due to rising US exports. This influx coincides with new LNG plants by Woodside and Santos coming online, raising concerns about the timely progression of a planned project in Papua New Guinea.
Comments