China's Majors Dismiss Forecasts for LNG Crunch

摘要

Despite some predictions that a glut in global LNG markets could swing to a shortage sometime next decade due to the recent freeze on project sanctioning, China's major LNG importers see no need to sign new long-term supply deals. Royal Dutch Shell expects a supply gap of at least 100 million tons per year to emerge in global LNG markets sometime after 2020 due to the lack of final investment decisions (FIDs) on new projects since the oil price crash of 2014. "New FIDs are required to meet the demand growth after 2020,” Ren Xianfang, head of Shell's China gas strategy, told a LNG conference in Wuxi, in eastern China's Jiangsu province, on Wednesday.