Daily LNG price update (Wood Mac sees GLUT)

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Sigh. It’s all so predictable! From LNGworldnews:

Wood-Mackenzie-expects-Chinas-LNG-supplies-to-soar-530x301

Wood Mackenzie anticipates that the Pacific will experience a ramp up of 70 mtpa in new LNG supply from Australasia over the period to 2019, driven by production from Papua New Guinea and Australia.

This has been complemented by the outlook for Chinese demand – the country has contracted some 17 mtpa of new supply from Australasia, with an additional 2 mtpa of portfolio supply likely to be underpinned by projects in that region.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.