Asia

Editor’s Note: The following segment is one in a series by NGI’s LNG Insight focused on exploring how the global liquefied natural gas (LNG) market works. The conversations in this series will also analyze news and the issues that matter most to the industry in North America and beyond.

Following a record year of low prices driven by increasing liquefied natural gas (LNG) production in 2019, the global supply glut is likely to persist for at least another two years, according to the International Gas Union (IGU) in its annual report this week.

Despite prices that have cratered since last year and a steep cut in demand caused by the Covid-19 pandemic, global liquefied natural gas (LNG) supplies remain resilient and cargoes are still being delivered.

The outlook for liquefied natural gas (LNG) is growing dimmer as prices across the world have fallen by double-digits this year and the Covid-19 pandemic continues to ravage demand in markets already awash in supplies, suggesting production shut-ins are practically guaranteed in multiple countries.

Uncertainty continues to mount across the global natural gas market with key buyers from Europe to South Asia sidelined by measures to slow the coronavirus, raising questions about how suppliers across the world will respond to the possibility of an extended downturn in demand as inventories fill.

Uncertainty continues to mount across the global natural gas market with key buyers from Europe to South Asia sidelined by measures to slow the coronavirus, raising questions about how suppliers across the world will respond to the possibility of an extended downturn in demand as inventories fill.

Global natural gas prices continued their freefall as the week got underway, hitting new lows in both Asia and Europe as the coronavirus outbreak has destroyed demand and left the market awash in supplies.

Global natural gas prices continued their freefall as the week got underway, hitting new lows in both Asia and Europe as the coronavirus outbreak has destroyed demand and left the market awash in supplies.

Bedlam reigned in the global natural gas market on Thursday as more force majeures were issued, cargoes appeared to have nowhere to go, and prices continued spiraling because of widespread measures to stem the coronavirus outbreak.