LNG is iron ore all over again

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From the AFR:

A glut of liquefied natural gas is likely to plague the market until 2022, triggering further delays to new projects and potentially forcing some producers in Queensland, Western Australia and elsewhere to cut back production, Citigroup analysts say.

But the bank said the LNG market would “balance, not fail,” noting it expects long-term supply contracts still to be honoured.

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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.