Here’s more evidence of carnage in the liquid natural gas market
By the end of March Waterborne predicts 120 bcf of new production will be online, about a 15 per cent increase in just a few months. That’s enough to fill 40 LNG tankers per month
“US import patterns prior to 2007 were dictated largely by global excess which tended to cause a spike in US import numbers during the summer months as global demand was at its lowest. We expect to see this pattern re-emerge although on a greater scale. Because of the impending length in the global LNG market the potential for significant spikes in US imports is high. We expect to see the first sign of this in the form of a trickle early in 2010 and anticipate we will see larger volumes move to the US this spring and continue throughout the summer.”
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.