Released June 24, 2020 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--As of late May, exports from U.S. liquefied natural gas (LNG) plants were down by a third, and several cargoes had been cancelled by buyers in Europe and Asia for June and July, with more expected. Earlier this month, data provider Refinitiv, in a preliminary report estimated that the amount of natural gas flowing to U.S. LNG plants was on track to fall to a nine-month record low of 4.3 billion cubic feet (Bcf/d) per day, down from a record 9.5 Bcf/d in late March. The reason behind these cancellations is lowered demand due to the economic slowdown in the wake of the COVID-19 coronavirus pandemic.
In Industrial Info's 2020 North America Mid-Year Industrial Market Outlook, Shane Mullins, vice president of product development, said that storage tanks across Europe were full, although Asian demand is expected to pick back up as the peak of the virus passes. Industrial Info is tracking more than $3.1 billion in LNG regasification projects in Europe and Asia that have been pushed out, placed on hold, or otherwise affected by COVID-19.
To read the entire article, check out this month's edition of the NavigatIIR online newsletter.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
In Industrial Info's 2020 North America Mid-Year Industrial Market Outlook, Shane Mullins, vice president of product development, said that storage tanks across Europe were full, although Asian demand is expected to pick back up as the peak of the virus passes. Industrial Info is tracking more than $3.1 billion in LNG regasification projects in Europe and Asia that have been pushed out, placed on hold, or otherwise affected by COVID-19.
To read the entire article, check out this month's edition of the NavigatIIR online newsletter.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
