The global liquefied natural gas (LNG) market, which was set to be constantly loose in the second part of this decade, is instead set to get tighter and could even see annual supply deficits as a result of likely delays in the development of LNG projects in Mozambique due to the country’s worsening security situation, a Rystad Energy report reveals. Mozambique was once poised to catapult into the upper ranks of global LNG producers by the middle of this decade, but Total’s recent force majeure declaration signals indefinite delays on its onshore Mozambique LNG complex. The violent insurgencies also threaten ExxonMobil’s yet-to-be sanctioned Rovuma LNG. Together the two projects represent 28 million tonnes per annum (tpa) of LNG capacity. The market could see up to 9 million tpa of supply removed between 2026 and 2030, disrupting global balances. Rystad Energy had previously forecasted a largely balanced market in 2026, […]