Uptick in LNG demand this winter

Uptick in LNG demand this winter

LNG demand is expected to increase by 4 billion cubic metres (bcm) this winter and that's led by growth in China, Japan, and South Asia. 

 

"LNG supply is expected to grow by 3 bcm led by the United States. And when we put together demand and supply forecast, we expect the LNG market to be slightly tighter than last winter by 1 bcm,“ noted Refinitiv Representatives at the latest GECF Monthly Gas Lecture.

 

However, there remained several risks to the forecasts, foremost of which are winter temperatures and coronavirus pandemic. The former was unusually warm last winter for the northern hemisphere, dampening LNG demand. In the case of the latter, the full-blown effect of Covid-19 is unclear particularly as it is currently worsening in many countries and levelling off in others.

 

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