HORIZON Asian Buying Giants Band Together to Tackle Growing LNG Surplus

摘要

Major Asian LNG buyers are increasingly preoccupied by the need to deal with the surplus building up as contracted supplies overwhelm waning demand in their home markets. That appears to be the driving force behind plans by Japan's Jera, Korea Gas (Kogas) and China National Offshore Oil Corp. (CNOOC) to cooperate more closely. All have an appetite for LNG post-2020, but their more immediate task is to tackle the glut. The three are the biggest buyers in their respective countries with combined contracted demand of at least 80 million tons per year, accounting for roughly 30% of the global LNG market.