Data and analytics specialist McKinsey Energy Insights (MEI) predicts in its latest research that LNG over-supply could last until 2024, with few projects expected to reach final investment decision (FID) in the next 12 to 18 months.
MEI’s research shows that the current global LNG supply glut is exacerbated by the 100 million tonnes per annum (mtpa) of new export terminal capacity currently under construction in the US and Australia.
Further still, by 2019 over-supply will peak at 60 mtpa, the company suggests.
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