he glut of natural gas could lead to more cancelled LNG exports in the next few months.
“It is clear that yes we face today people talk lot about the oil market, but the gas markets are suffering a lot,” the CEO of Total SA, Patrick Pouyanne, told investors and analysts on an earnings call on Tuesday. “We are on the way to, I would say, cancel some of the of the LNG tankers during summer time in order to limit some losses.”
Global LNG supply is expected to rise to 380 million tonnes in 2020, up 17 Mt from a year earlier, according to data from Rystad Energy. However, demand will rise by a relatively modest 6 Mt, putting total demand at 359 Mt for the year.