WASHINGTON: US exporters of liquefied natural gas (LNG) head into 2020 after a record year that saw exports soar by more than 60 per cent, but growing concerns about weakened demand and heavy competition could act as headwinds in the coming year.
Four new liquefaction trains — the common term for a shipping facility — entered service this year in the United States. The US is on track to become the biggest global LNG exporter by 2024.
LNG is seen as an alternative for Asian countries that have relied on coal-fired power plants. LNG exports have surged in recent years out of Qatar, Australia, and the United States, the three biggest exporters of the super-cooled fuel.
The fickle nature of the market was apparent early this year, when a warm winter in Asia cut heating demand and prompted Asian importers to divert cargoes to Europe. — Reuters
Oman Observer is now on the WhatsApp channel. Click here
