WoodMackenzie: Far too many LNG projects underway

A long line of global LNG projects continue unabated in spite of the current oversupply of LNG, says analyst firm WoodMackenzie, adding that a 50 percent reduction in the number of projects is crucial.

Photo: BW Shipping

Global development of LNG projects continues at high-speed, despite the fact that LNG demand is not particularly high and is expected to be in the doldrums for several years going forward.

If none of the planned LNG projects slow down, a projected 100 million tons of LNG will flow into the market annually over the coming years, which will extend the oversupply of LNG in Asia all the way up to 2025.

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