LNG demand in 2020 from the world’s three largest importers is now set to fall year on year, ICIS has today forecasted.
LNG demand destruction, caused by the impact of the coronavirus pandemic, will cause imports to be lower in China, Japan and South Korea this year, compared to 2019.
“The forecast weakness in over half of the world’s LNG import market for 2020 will only exasperate the current oversupply and keep pressure on key natural gas and LNG prices,” said ICIS LNG Analyst Tom Marzec-Manser.
“While Japan and South Korea have been contracting as LNG markets for a few years, a shrinking Chinese market will cause major headaches for those producers looking to find demand for their increasing output.”
... to continue reading you must be subscribed
