The global LNG market is not currently tight, Gunvor Chairman Torbjörn Törnqvist said on March 18 at the CERAWeek by S&P Global conference, contradicting the view shared earlier in the day by the top executive of major LNG exporter TotalEnergies.
LNG supply will increase by a third over the next five years, Törnqvist said at the CERAWeek conference in Houston, Texas. He anticipates gas prices will remain low given the ample offers in the market.
Oil markets are fairly balanced and there will likely be no unexpected surprises to global demand forecasts, he also said.
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