Another dire LNG warning

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Dr Fereidun Fesharaki just won’t leave Australia alone, via the AFR:

“Somebody has to lose a lot of money – there is no escape from it – the question is how do you divide the losses,” said Dr Fesharaki, a former energy adviser to the prime minister of Iran who is known to have close links with LNG buyers.

The bleak outlook is based on expectations of a prolonged glut in LNG, exacerbated by significant volumes of contracted output that have yet to be sold to end-users of gas.

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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.