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2017-04-03 18:40:00

LNG OVERSUPPLY

LNG  OVERSUPPLY

REUTERS - The world's gas industry is descending on Tokyo this week with something other than cherry blossoms on its mind: a trio of Asian LNG buyers testing their collective muscle in a push for more flexible long-term contracts for the fuel.

Korea Gas Corp (KOGAS), Japan's JERA and China National Offshore Oil Corp (CNOOC) [SASACY.UL] - whose joint liquefied natural gas volumes account for a third of global LNG trade - are attempting to cement a shift in power from producers to importers amid a supply glut that is expected to persist into the early-2020s.

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Tags: LNG, KOREA, JAPAN, CHINA
Chronicle:
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