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Australian LNG Faces Double Whammy of Oversupply: IEEFA
Australian liquefied natural gas (LNG) producers are potentially facing a couple of challenges in the global market: an oil supply glut and a global LNG oversupply. The Institute for Energy Economics and Financial Analysis (IEEFA) said in a news release that demand for LNG is starting to decrease in mature markets. European demand for LNG is expected to peak in 2025 and then decline, with its gas consumption having already decreased by 20 percent in the last two years. Japan’s LNG demand has decreased by 25 percent since 2014, and is expected to decrease by a further 25 percent by 2030 as LNG is displaced by ... (full story)