LNG

No evidence of LNG ‘glut’ yet, BP execs say

A plentiful supply of LNG has hit prices for the fuel, but the market has yet to see the spectre of idle capacity, say BP executives A plentiful supply of LNG has hit prices for the fuel, but the market has yet to see the spectre of idle capacity, say BP executives.
By Chris Noon 14 June 2018 0 31294
A BP LNG carrier A BP LNG carrier. (BP plc)

Growth in global LNG production has pushed down prices, but producers have not cut back on their liquefaction capacity in response to a market ‘glut’, BP’s chief economist, Spencer Dale, said in London on Wednesday. 

“There is little evidence of facilities standing idle because of a lack of demand,” said Dale at a briefing to unveil the 2018 edition of BP’s Statistical Review of World Energy, an annual compendium of industry data.

Instead, abundant LNG supply has caused instances of “unsustainably low prices” in...