The global LNG market is not currently tight, Gunvor Chairman Torbjörn Törnqvist said on March 18 at the CERAWeek by S&P Global conference, contradicting the view shared earlier in the day by the top executive of major LNG exporter TotalEnergies.
LNG supply will increase by a third over the next five years, Törnqvist said at the CERAWeek conference in Houston, Texas. He anticipates gas prices will remain low given the ample offers in the market.
Oil markets are fairly balanced and there will likely be no unexpected surprises to global demand forecasts, he also said.
Recommended Reading
Enbridge Sells Off NGL Pipeline, Assets to Pembina for $2.9B
2024-04-01 - With its deal to buy Enbridge’s NGL assets closed, Canada's Pembina Pipeline raised EBITDA guidance for 2024.
Tallgrass Declares Open Season for CO2 Transport Pipeline
2024-05-06 - Tallgrass Energy’s Trailblazer project, originally a natural gas pipeline, would move greenhouse gas from Nebraska and Colorado and store it in geological formations in Wyoming.
Pembina Pipeline Enters Ethane-Supply Agreement, Slow Walks LNG Project
2024-02-26 - Canadian midstream company Pembina Pipeline also said it would hold off on new LNG terminal decision in a fourth quarter earnings call.
Enbridge Announces $500MM Investment in Gulf Coast Facilities
2024-03-06 - Enbridge’s 2024 budget will go primarily towards crude export and storage, advancing plans that see continued growth in power generated by natural gas.
Enbridge Plans to Increase Permian Oil Pipeline’s Capacity
2024-05-10 - Midstream company Enbridge announced an open season on the Gray Oak Pipeline for a proposed 120,000 bbl/d expansion and updated its M&A efforts.