2019 saw a record level of final investment decisions (FIDs): six new projects, with a combined capacity of 71 mtpa, were sanctioned. And it looked like there might be more to come, with projects with a further 190 mtpa of capacity saying that they would take FID in 2020-21. That has all now changed. An unprecedented collapse in global energy demand, combined with the ongoing supply glut in LNG markets and the crash in oil prices, have made it unlikely – with the possible exceptions of Qatar and the smaller, Costa Azul plant in Mexico – that we will see any FIDs in 2020. This investment drought may well extend into 2021.
展开▼