Analysts Say NatGas, LNG Demand for 2020 “Unpredictable”

Unpredictable

Commenting on their latest short-term gas and LNG outlook report, energy consulting firm Wood Mackenzie says worldwide gas supplies have been impacted by the triple whammy of coronavirus, oil price crash and LNG oversupply. While WoodMac expects LNG demand to grow by a modest 6% this year, “the numbers will need constant revision as economies around the world feel the force of the growing pandemic.” WoodMac also says, “the narrative for the rest of 2020 could not be more unpredictable.” Meanwhile, according to NGI, global natgas prices are currently in a “freefall” hitting new lows in Asia and Europe.

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