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LNG supply gap to open up if new projects not sanctioned -Chevron vice chairman
April 4, 2017 / 4:50 AM / 8 months ago

LNG supply gap to open up if new projects not sanctioned -Chevron vice chairman

CHIBA, April 4 (Reuters) - A supply gap is likely to open up in the liquefied natural gas (LNG) industry if new projects are not sanctioned, said Chevron Corp Vice Chairman Michael Wirth at a gas industry conference on Tuesday in Japan.

“In the short term, LNG supply is coming online faster than demand is growing, but with continued demand growth in the next decade the market will rebalance,” Wirth said.

“So, while we expect ample supply in the next few years ... a supply gap could eventually confront us in the years to follow if we don’t eventually sanction new LNG projects,” he said.

Reporting by Mark Tay; Editing By Tom Hogue

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