Around 300 billion cubic metres (bcm) of new annual LNG export capacity is scheduled to start operation by 2030 and “questions still linger about where all the new LNG will go,” according to the International Energy Agency’s World Energy Outlook 2025 report.
It forecasts a 65 bcm ‘overhang’ in five years’ time.
“Europe and China, the main destination for new LNG supply over the past decade, are set to take some of the new volumes, but the upside potential is limited … by continued momentum behind the deployment of renewables, nuclear energy in some countries, and efficiency policies.”
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