Global liquefied natural gas (LNG) markets have evolved in just a few years, morphing from a somewhat limited supply of the super-cooled fuel as recently as four years ago to an ongoing supply glut that will likely last well into the next decade, perhaps shorter than that if China’s procurement of the cleaner burning hydrocarbon continues its current trajectory. However, LNG markets will never be the same again. It all started with Australia’s massive LNG project development boom that added more volumes onto markets in the Asia-Pacific region, which accounts for a staggering 72 percent of all global LNG demand, with that number foretasted to tick up to 75 percent soon. As Australian LNG projects came on-stream, extra supply forced prices downward. Projects in the U.S., Russia and elsewhere coming on-stream over the last few years have also added more than ample supply, creating an unprecedented supply overhang of […]