LNG

Global LNG supply is forecast to top 594 million tons by 2030, as a massive capacity build-out in Qatar and the US causes an oversupply of up to 15 million tons. For African utilities, a sustained supply surplus is more of a curse than a blessing, analysts warn.

As Asian utility buyers have covered their summer LNG demand, Qatargas is diverting more cargoes to the UK, adding length to an oversupplied market which is likely to exacerbate the 28% drop in gas prices at the NBP since April.