Global LNG Growth Peaks in 2016 With Australia Projects: Chartby
Australia is leading a wave of new liquefied natural gas projects that will increase global capacity by a record this year. That’s coinciding with a slump in prices to the lowest since 2009 that’s straining the cash flow of some of the most expensive energy projects ever. LNG growth is set to slow after this year, with fewer new developments on the horizon. Woodside Petroleum Ltd. on Wednesday scrapped plans to develop the $40 billion Browse development, citing the “extremely challenging” market.