SINGAPORE - Not even China’s voracious appetite for liquefied natural gas may be enough to absorb the additional supplies hitting the market this year, with the price of the super-chilled fuel potentially a casualty.
But the sharp rise in January imports is likely to unwind in coming months as much of the LNG is being used in coal-to-natural gas switching projects that run out of steam as the northern winter ends. The problem for the LNG market is that it’s likely that more than 30 million tonnes of additional LNG supply will be available in 2019.
Increasing nuclear generation in Japan is likely to result in lower LNG imports, although it will keep its status as the top buyer for several years yet.
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