As demand slows down and new capacity enters the market, the global LNG market will experience a clear oversupply in the next three years.
Global LNG supply will be significantly surplus over the next three years
Carmen Lopez-Contreras, a senior analyst at Repsol of Spain, stated at the Global LNG Conference in London that during the period from 2014 to 2018, global LNG demand will increase by 4.7%, but supply will increase by 7.5%.
She said: "In 2014, global LNG producers' capacity utilization rate was 92%, but by 2018 it will fall to 82.8%, which means that the global LNG market will fall into a situation of overcapacity." There will be more than 100 million worldwide by 2018 Ton/year of new LNG capacity put into production.
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