28 April 2024
IEA: LNG destination flexibility will boost global supply security
Publication date: 24 November 2016
Gas Strategies Group
10 Saint Bride Street
London UK
EC4A 4AD
ISSN: 0964-8496
Twitter @GasStrategies
Editorials
Subscriptions
LNG has a crucial role to play in ensuring global gas supply, but the industry needs to overcome inherent rigidities in production by offering contracts with more flexible destination clauses, the International Energy Agency (IEA) said its first-ever annual Global Gas Security Review.
Launched at the LNG Producer-Consumer Conference in Tokyo – the same event where Woodside CEO Peter Coleman also called for more flexible LNG contracts [1] – the report warned that the "massive expansion" of liquefaction capacity amid weaker-than-expected demand were part of a cycle, rather than a new permanent reality.