LNG market set to rebalance as glut looms
Woodside’s Pluto LNG plant in Australia. Significant new global capacity is set to come online soon. (Woodside)
Faced with a looming supply glut and slowing demand growth, the Asian LNG market is set to rebalance at lower prices in the second half of this decade, analysts have warned.
After years of soaring prices that encouraged prospective developers to float plans for liquefaction projects in remote regions across East Africa, Canada and Alaska, Asian LNG prices now look set for a longer-term slump as growing supply meets waning demand.