LNG supply & demand-II: Will the 'under-performance' continue into the future?
Feb 20: Is this "under performance" between supply and demand to continue into the future? 8To understand the phenomena correctly, the website carries here details of the gap between LNG supply, projected and actual in 2015 and 2016 at the global and country level. 8The key underperformers relative to prediction are Australia (due to lower output than expected from recently completed projects, notably the delay in commissioning Gorgon trains 1 and 2), Angola (the facility being offline for this period), Egypt (the prediction was changed to zero from September 2015, though the country did export some cargoes towards the end of 2016), Yemen (shut down throughout the period) and Algeria to varying degrees during the period. Frequent over-performers were PNG and Russia. 8The website also carries here fresh country-level LNG production projections until 202. The assumed start-up timings for new LNG projects up to 2021 are also documented 8The outlook for global LNG supply shown depicts a sustained ramp-up in supply to above 500 bcma in 2020 from 350 bcma in 2016. 8The difference between predicted and overviewed performance reduces as the Australian projects are assumed to overcome commissioning problems by 2019. 8For 2018 and beyond, global LNG supply appears set for sustained and significant increases over recent levels. Click on Reports for more