Gastech 2017: Global LNG market and the oversupply issue

Gastech 2017

Major Energy Company Representatives Discuss LNG Oversupply at Gastech Japan

Sellers say a supply crunch is looming. Buyers say suppliers are out of touch with the changing times.

Nestled within some of Tokyo’s most famous parks, Japan’s iconic cherry blossoms are in full bloom, signaling the start of a new season. The flowers are symbols of transience in Japan, and while that may not apply exactly to the global gas glut, suppliers have a message for buyers: the good times are coming to an end.

“With supply short-term being abundant it’s very understandable that buyers don’t want to look beyond, but they need to look over the crest of the hill,” Peter Coleman, Woodside Energy’s chief executive, told the 29th Gastech conference in Chiba Prefecture, on Tokyo’s eastern outskirts. “And it’s clear that a supply shortage looms unless investment decisions are taken soon.”(source: Petroleum Economist)

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s