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LNG buyers continue to seek price relief
Liquefied natural gas buyers continued to show no love to sellers at an international gas conference last month in South Korea. The escalating price of energy has eroded the economic competitiveness of the world’s dominant LNG buyers, the chairman of Taiwan's state-owned LNG importer told delegates at the international Gastech Conference in South Korea in late March.
“There are times that the old ways don't work anymore. We need to get rid of the old and find new and better (pricing) alternatives,” said the chief executive of Korea Gas, the world’s top buyer of LNG.
Sellers also were in force at Gastech, too, talking about spiraling construction costs and new development opportunities, but in challenging, expensive locations. They at least struck a more peaceful tone: “I know we can find common ground. We’ve done it in the past.”
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ExxonMobil foresees multiple LNG projects needed
In ExxonMobil’s world view, an immense build-out of LNG plants will be needed in the next 15 years or so to satisfy burgeoning global demand for natural gas.
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