Woodside sees global LNG market balanced from 2025
1/21/2021
Woodside Petroleum sees the global LNG market returning to balance from 2025 onwards, following a big glut last year, with demand growing and fewer new projects being approved, Chief Executive Peter Coleman said.
“We’ve seen a rebalancing very quickly in the short term,” Coleman told Reuters.
“But for the mid- to long term, we’re also now seeing that the market is going to be balanced through that period of 2025 onwards, where previously, 12 months ago, people were predicting that there was going to be a suite of new projects coming through and potentially flooding the market at that point.”
(Reporting by Sonali Paul; Editing by Jacqueline Wong)
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