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LNG Has Bigger Demand Case for Asia: Vitol

LNG

The LNG market has limited scope for demand growth in Europe, while the bigger demand case is in Asia, Vitol’s chief executive Russell Hardy said at CERAWeek, cited by Argus.

  • "A lot of the new production is going to end up in Asian markets," Hardy said. "There is huge growth potential just because there's still billions of tons of coal being consumed in Asia."
  • Although the Biden administration’s current pause in new LNG export licenses has been a point of concern, there is still significant demand under construction that is due to start up over the coming years, he said.

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