Global flows of liquefied natural gas (LNG) are set to change as the growth in a supply glut will peak in 2018 because of new production from Australia and the United States, energy consultancy PIRA Energy Group said. The growth in Australian and U.S. LNG supplies means traditional trade flows such as Qatari exports to Asia could end up being diverted to other destinations, PIRA Energy’s head of global gas and power, Ira Joseph said in an interview. Mega projects such as Inpex’s 8.9 million tonnes a year (mtpa) Ichthys LNG plant in Australia will directly add to regional supplies. The project is scheduled to commence first production next September. Following the expansion in Australian production, a second phase of growth in 2018 will come from new U.S. LNG production that totals around 27 mtpa. “The Asian market is going to be long relative to the Atlantic basin market […]