LNG imports by the world’s top three consumers, Japan, China and South Korea, and other Asia-Pacific countries such as India, have taken a hit due to the reduced demand and economic slowdown fuelled by the Covid-19 outbreak.

This has led to long-term LNG supply contract re-negotiations and cargo deferments by importing countries, causing supply overhang and resulting in lower LNG prices. As a result, LNG producers are rethinking their capex spends in upcoming multi-billion dollar gas projects.

To read more, please click here.