Woodside’s looming LNG shortage looks a lot like a huge glut

Thursday, 24 May 2018

Woodside Petroleum chief Peter Coleman has warned of further east coast gas price rises as a global LNG shortage hits markets in as little as two years — much sooner than forecasters were previously expecting.

After visits to Asian buyers in recent months, Woodside has brought its February forecast of a global LNG supply gap forward from 2023 to 2021 as non-Chinese Asian demand gathers pace and new projects come on line more slowly than expected.

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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.