BG CEO: LNG Industry Not Headed for Oversupply

BG Group’s Chief Executive Chris Finlayson presented at the Howard Weil Energy Conference in New Orleans on Wednesday.

He provided an outlook on the global LNG market, before explaining how BG Group fits into a period of continued high growth for the LNG industry.

“The LNG industry is not headed for oversupply,” according to Finlayson .

“As an industry that tends to systematically overestimate future supply and underestimate demand, we have been here before,” Finlayson said. “We believe that some new projects across the industry will probably take longer to deliver than many are expecting, and certainly some will fall by the way side.”

Chris explained that the LNG supply-demand gap will not be filled by the US alone. Projects in other locations – including Western Canada and East Africa – will also be required. He added that although LNG exports from the US will add some flexibility to the industry, the majority of volumes will continue to be delivered primarily to a single market over the contract’s life.

On future prices, he said they will continue to remain regionally differentiated, with Asia being the price setting market for the foreseeable future.

LNG World News Staff, March 27, 2014; Image: BG

 

Share this article

Follow LNG World News

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

The 6th CWC China LNG & Gas International Exhibition & Summit

Following on from LNG 2019 and five successful editions in Beijing, the established China LNG & Gas International Exhibition & Summit…

read more >

LNG Pricing, Trading & Hedging: 3-Day Training Course – Singapore / Jan 2019

This three-day training program provides a unique opportunity to learn and apply the practical skills, knowledge and tools needed to:…

read more >

American LNG Forum 2020

The American LNG Forum is your gateway to learning about the US LNG export industry,

read more >

2nd Global LNG Forum

Global LNG Forum is an exclusive networking and knowledge-sharing platform for top experts and business leaders in the industry.

read more >