Gas pressure rises as Asian demand cools

Original article by Perry Williams
The Australian – Page: 17 & 20 : 17-Feb-20

Australian LNG producers are facing a tougher trading environment in 2020, according to the Australian Energy Regulator, with Asian buyers seeking better deals and reducing the volumes they purchase. Australia supplied 49 per cent of China’s LNG needs in 2019, but demand for LNG in China in 2020 may now only increase by four per cent, compared to a previous forecast of 13 per cent. However, falling Asian LNG spot prices could be good news for Australian gas consumers, according to the AER, as it gives them more bargaining power when striking short-term gas deals with gas exporters.

CORPORATES
AUSTRALIAN ENERGY REGULATOR

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