Some of the world’s biggest importers of liquefied natural gas (LNG) are reducing orders in the face of a 500% price surge within a year, raising concerns among major producers about potential long-term destruction of demand. LNG buyers, including numerous emerging economies in Asia, are balking at prices that have doubled just within the past month, while a growing number of exporters in North America are straining to boost export capacity that will still take years to come online. Natural gas is viewed as a more acceptable fossil fuel as growing economies like India, China and Pakistan try to reduce carbon emissions, because it burns more cleanly than oil and coal. But the surge in natural gas prices is prompting power providers to revert to coal and fuel oil and causing a rethink on new LNG investments in Southeast Asia, which was expected […]