The recent decision by Australian LNG Ltd to delay its Louisiana-based Magnolia liquified natural gas (LNG) export project for a year, amid dwindling interest from Chinese customers, has cast a pall over the future of the LNG industry. “Chinese LNG demand growth is the largest piece of demand growth out there, and Chinese buyers have got to feel reluctant to commit to U.S. capacity when the U.S. government sees trade as a means of exerting political leverage,” said Bob Ineson, managing director of North American natural gas at IHS Markit. In an interview with Fairfax Media on Tuesday, Mr Turnbull said he was "disappointed" that China had not yet signed up to the Paris climate change agreement. LNG demand is set to reach between 360-450 million metric tonnes by the mid-2020s, driven mostly by China, but sources claimed Beijing won't agree to any more deals until the trade war is resolved.
The recent decision by Australian LNG Ltd to delay its Louisiana-based Magnolia liquified natural gas (LNG) export project for a year, amid dwindling interest from Chinese customers, has cast a pall over the future of the LNG industry. In an interview with Fairfax Media on Tuesday, Mr Turnbull said he was "disappointed" that China had not yet signed up to the Paris climate change agreement. LNG demand is set to reach between 360-450 million metric tonnes by the mid-2020s, driven mostly by China, but sources claimed Beijing won't agree to any more deals until the trade war is resolved.