2009: Low prices and weak demand - 2010: An additional 44 mtpa of production
2009 has been a year of change and uncertainty for the LNG business. Demand has been weak in key markets but supply has also grown more slowly than expected due to delays in the start-up of new trains and technical problems at operating plants. Prices in most markets have fallen by 50% or more. However, the rapid expansion of regasification and shipping capacity continued, and by the third quarter of 2009 the long-awaited surge in supply had gained momentum. LNG Business Review looks at the events of 2009 and considers the implications for 2010, which is set to be another challenging year for the LNG industry.