The mood music is upbeat. Just 18 months ago the liquefied natural gas (LNG) market was depressed, anticipating an extended period of oversupply. But things haven’t played out quite like that, and prices have staged a strong recovery.
The market may not be quite out the woods, as supply builds up next year potentially putting some downward pressure on prices. But the outlook beyond is bullish, with 65 million tonnes per annum (mmtpa) of new supply needed to meet growing demand by 2025, 20 mmtpa more than we forecast a year ago. How have things turned round so quickly?
