- Last week, Spanish utility Naturgy Energy Group cancelled two LNG cargoes set to be delivered to Spain from the US Gulf Coast through Cheniere Energy.
- It is not that the LNG isn't required, though a mild winter in Northeast Asia did sap spot demand – it is simply that there is too much LNG sloshing around the world currently.
- Based on approvals in 2019, global LNG liquefaction capacity could grow to 843 million tons per annum by the mid-2020s, propelled by additional volumes from the US, Russia, Papua New Guinea, the Eastern Mediterranean and West Africa.
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