64683
Global LNG Glut May Persist
Global LNG Glut May Persist

Global LNG Glut May Persist

Global LNG Glut May Persist

A global supply glut in liquefied natural gas will persist for the next two to three years, the CEO of Thailand's state-run oil and gas giant PTT told CNBC. "Globally, we have surplus capacity in both LNG and crude oil," said Tevin Vongvanich, PTT President and CEO in an interview on the sidelines of the World Economic Forum on ASEAN in Phnom Penh, CNBC reported. "We don't see a drastic change in the LNG price for the next two or three years on the spot market because of this oversupply situation," he said, adding that a "buyers' market" will persist. Despite the global supply overhang, Tevin said he was more confident in the demand profile for LNG in the home market of Thailand where he expects demand to double over the next five years.

Short URL : https://goo.gl/nqu1a1
  1. https://goo.gl/EC5MnV
  • https://goo.gl/YB5FjP
  • https://goo.gl/V9JKX9
  • https://goo.gl/YPjLql
  • https://goo.gl/BEh0W6

You can also read ...

Oil Industry Bosses Will Discuss OPEC Policy
Key oil ministers and company executives will gather in Russia...
China, India Lead Solar Expansion
India and China are driving a rapid global expansion in large-...
Russia Eying Crimea Energy Resources
Russia should explore the Crimean continental shelf for...
Brent and WTI crudes stood at $79.39 and $72.47 per barrel on Tuesday.
Oil prices rose on Tuesday on concerns that Venezuela’s crude...
NIOPDC to Export  8,000 Tons of Diesel
Close to 10,000 tons of diesel were exported to Iraq and...
NISOC Efforts to Develop 4 Major Oilfields on Track
The National Iranian South Oil Company's efforts to boost...
Smart Electricity Meter Project Awaits Funds
The venture to complete the replacement of 450,000 old...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus