Global LNG production jumped in 2019, triggering oversupply and low prices that are expected to persist in 2020, says report by Independent Commodity Intelligence Services (ICIS).
Initial full-year data from LNG Edge shows exports at 355m tonnes in 2019, up from 314.9m tonnes in 2018, representing the largest ever increase in production.
While East Asian, especially Chinese, demand increased in 2017 and 2018 to absorb additional production, there was little change in 2019.
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