Peter Coleman, chief executive of Australia’s Woodside, does not see a threat from the buyers’ alliance made up of Japan’s Jera, South Korea’s Kogas and China National Offshore Oil Corp., according to Reuters.
The purpose of the alliance is to provide additional flexibility in the LNG market and end restrictions on LNG contracts.
If successful, the move will result in more LNG cargoes being traded but will make it more difficult for new projects to be brought online, according to Coleman.
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