Market downturn beclouds new LNG projects

Low oil prices and sluggish demand in Asia have cast a cloud over the economic viability of new grassroots liquefied natural gas export projects. That's the focus of a new study by the Oxford Institute for Energy Studies (OIES). The study looks at full project details, including fiscal regimes and associated natural gas liquids sales, and takes actual price formulas for the Qatar Liquefied Gas Co. (Qatargas) and Oman LNG projects to calculate net cash flows for LNG projects in Qatar, Oman, and Yemen. It estimates, for example, that Qatargas returns reach rock bottom at oil prices of $14/bbl of Dubai marker crude, assuming that this level is maintained in real terms over the lif...

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