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
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