Supply glut in LNG globally will likely continue to weigh on US export flows and prices until 2022, BP said.
Amid a wave of new LNG plants coming onstream and subdued gas demand growth in Asia, spot gas prices in Asia and Europe have nosedived in 2019. As coal-to-gas switching fuel switch has maximized, gas storage sites have been filling to capacity at the time in Europe.
The $2.6 billion a non-cash impairment charge reported by BP during Q3. In August, the sale of the Alaskan business to Hilcorp for $5.6 billion agreed by BP. Further US gas asset sales predicted to resume in Q4.
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Published on October 30, 2019 7:54 PM (GMT+8)Last Updated on January 17, 2020 2:13 AM (GMT+8)
