Some gas projects are now being put on hold on the back of record low prices and brimming storage facilities, and some operators are pushing back orders for the new vessels they had been counting on as big profit engines. With the world economy now projected to shrink by 3% this year, according to the International Monetary Fund, shipowners are having second thoughts about spending billions on new tankers. Middle East energy giant Saudi Aramco and its shipping arm Bahri have put on hold their planned entry this year into LNG shipping, pushing back an order of a dozen gas carriers worth up to $2.5 billion. The postponement came after San Diego-based Sempra Energy said in early May it would delay an investment decision on its Port Arthur, Texas, LNG export project until 2021. The company cited adverse market conditions from the pandemic lockdowns. Under a 20-year deal signed […]