LNG supply, demand weathered 2008-09, will recover in 2010-11

Despite the effects of the economic crisis on world economies and overall energy demand, global LNG trade in 2009 did not fare too badly. Thanks in large part to "markets of last resort" in Northwest Europe and North America, global LNG trade puttered along as sellers were able effectively to "push" unwanted cargoes into these liquid gas markets.Given the combination of weak LNG demand in Asia with almost 45 million tonnes/year (tpy) of nameplate LNG export capacity entering service in 2009, northwestern European and North American markets were instrumental in balancing the global market by accepting cargoes unwanted elsewhere. The opening of new LNG receiving terminal...

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