Australia is unlikely to challenge Qatar as the biggest liquefied natural gas exporter “any time soon” and has too many proposed projects competing for customers, Macquarie Group Ltd. said.
Only a “fraction” of the projects planned in Australia may proceed, analysts Adrian Wood, Gavin Maher and Kirit Hira wrote in a report today. While LNG demand may double to 372 million tons a year by 2020 from current levels, supply is “more than up to the challenge,” their report shows.
“Beyond 2014, it continues to look like a buyer’s market, given the growing number of proposed projects competing for finite demand, suggesting many trains simply will not be needed,” the Sydney-based analysts said.
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