EMEA News
Softer LNG Prices by end of Decade: TotalEnergies CEO
Tuesday October 3, 2023
Global prices of liquefied natural gas (LNG) are expected to soften by the end of the decade as new supply comes online, the CEO of French energy firm TotalEnergies has said.
LNG supplies are expected to increase by around 100 million metric tonnes per year, or around 20%, by 2030, particularly from new projects in Qatar and the United States, Patrick Pouyanne told reporters at a groundbreaking ceremony for the expansion of Qatar's giant North Field LNG facility, Reuters reports.
Global LNG prices surged to a record in the wake of Russia's invasion of Ukraine last year, as Europe sought to replace Russian pipeline gas supplies.
"Probably by the end of the decade we will see a softening of (LNG) prices," Pouyanne was quoted as saying.
