Global LNG glut is greatly exaggerated, says Novatek

Global LNG glut is greatly exaggerated, says Novatek:

"Novatek, the Russian liquefied natural gas producer, sees a global surplus of the super-chilled fuel disappearing faster than expected.
“I disagree that there is a global LNG capacity surplus,” chief executive officer Leonid Mikhelson said in an interview in Paris last week. Demand in the Asia-Pacific region is so robust that the industry’s assumptions about supply will have to be overhauled, probably within the next three years, he said.
One example of that change is China’s LNG imports, which soared 56% in the first quarter, according to Mikhelson."



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