What rock-bottom natural gas prices mean for Canada’s aspiring LNG industry | The Narwhal
“Even if you take away COVID-19, the world already had a lot of LNG,” said Kaleem Asghar, director of LNG analytics for ClipperData, which provides commodities analytics.
A big wave of LNG has rolled into global markets over the past four to five years, in tandem with unusually mild winters in Europe, which have reduced the amount of gas required for heating.
“There’s so much supply, so little demand … the price has fallen well below the break-even point for pretty much any LNG producer.”