Coronavirus Thrusts LNG Market Further into Turmoil as More Cargoes Float with Nowhere to Go

摘要

Bedlam reigned in the global natural gas market on Thursday as more force majeures were issued, cargoes appeared to have nowhere to go, and prices continued spiraling because of widespread measures to stem the coronavirus outbreak. The uncertainty and quickly changing dynamics were deepening an imbalance in the liquefed natural gas (LNG) trade that has plagued the global market since last year. Ship brokerage Poten & Partners warned Wednesday during a webinar that the virus could weigh on LNG for the next 18 months. U.S. export terminals, the frm said, would likely be the frst to cut supply as producers respond to restore balance.