Waterborne Energy projects global LNG production increase


US consulting group Waterborne Energy has projected that ‘winds of change’ will bring a major shift to the global LNG market in 2009, as production rises and spot prices decline accordingly.

While some forecasts have estimated a tight LNG market ahead, Waterborne Energy appears to suggest otherwise.

The Houston-based consulting firm, which tracks and analyses LNG markets, expects global LNG production to significantly increase next year and international spot prices to drop accordingly.

As detailed in the 17th December 2008 edition of the US Waterborne LNG Report, an expected 2.8 tcf of new LNG production capacity should come online in the first half of 2009, if all projects remain on schedule.

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