Chong Zhi Xin News

The investment outlook for liquefied natural gas (LNG) has improved this year but project go-aheads will not match the bonanza of 2019, as the fight against climate change clouds the prospects for gas demand growth longer term.Renewed optimism as the industry emerges from the pandemic, rapidly rebounding oil and gas prices and a better economic outlook is building confidence in short and long term LNG demand in Asia and spurring companies to look at new LNG projects, most of which were shelved last year when prices slumped.However, they need to take into account the ever tighter carbon emissio

According to Wood Mackenzie Ltd, Europe is set to be the key destination for liquefied natural gas supplies from the U.S. after prices fell in Asia, the world’s biggest consumer of the fuel says a report in Bloomberg. The U.S. is forecast to ship about 55 percent of its total LNG production, or 32 million metric tons a year, to Europe by 2020, according to Alex Munton, the Houston-based principal analyst for Americas LNG at Wood Mackenzie. That’s because Europe is so close, has ample import capacity and liquid markets, and now has prices nearer to those in Asia. Wood Mackenzie’s Chong Zhi Xin says: “In 2015, weak market environment forced companies to adjust strategies and tactics.