LNG Market Supply to Remain Tight for Years, Top Producers Say
- Qatar says global LNG demand won’t peak for at least 20 years
- Woodside sees “structurally short” market until at least 2026
Pipeline pipes at the construction site of a new liquified natural gas terminal near Brunsbuettel, Germany, on Sept. 23
Photographer: Morris MacMatzen/Getty Images
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Liquefied natural gas will be in short supply in the coming years as production lags behind surging demand from Europe, according to the world’s top producers of the fuel.
Global LNG demand is unlikely to peak for another 20 to 30 years, Qatar Energy Minister Saad Al-Kaabi said at the Energy Intelligence forum in London. Meanwhile, supply will remain “structurally short” until there’s significant new production capacity, which will be 2026 at earliest, Meg O’Neill, chief executive officer of Australia’s Woodside Energy Group Ltd., said at the event.