CNOOC plans to ramp up drilling in the western waters of the South China Sea over the next few years, as it eyes more deepwater discoveries such as the Lingshui field finds.
In the long run, Myanmar has serious gas production and export potential, but supply problems threaten to constrain short-term development of the country’s domestic market.
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The anticipation of increased weather-related gas demand triggered a slight rally in Henry Hub futures over the past week, although predominantly bearish fundamentals are expected to cap gains in the short term.
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