Top

Oversupply has fundamentally changed the natural gas market — but it won’t last long

November 15, 2017

A global liquefied natural gas (LNG) supply glut may soon be offset by a rapid uptick in demand, Oil Search CEO Peter Botten said Wednesday.

“The market has fundamentally changed in the past few years,” Botten said at the Abu Dhabi Petroleum Exhibition Conference (ADIPEC).

“It has clearly been driven by oversupply but this won’t necessarily last that long amid a burgeoning demand for LNG.”

American shale drillers upended the energy industry after years of booming production — and the U.S. wants to sell even more of its excess gas abroad.

Read More on CNBC energy