Shifting the bulge
An onslaught of new supply will continue to pressure LNG prices in 2017
Another 36.1m tonnes of new liquefied natural gas supply will be shipped in 2017, worsening the global supply glut. Total LNG exports will soar to 282.5m tonnes during the coming 12 months, according to consultancy Energy Aspects. Liquefaction capacity additions in 2017 will rise even more steeply, growing by 51m tonnes a year to a total of 393m t/y. That comes on top of 39m t/y of capacity added in 2016. LNG shipments in Australia and Asia will reach 118m tonnes, a rise of 18%, or 21.3m tonnes, compared with 2016. Australia alone will add 26m t/y of new liquefaction capacity (to reach a total of 86m t/y), as new projects including Chevron's 8.9m-t/y Wheatstone project come on line. Demand w
Also in this section
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
