Bet on battered LNG market to bounce off the ropes | Financial Times:
Royal Dutch Shell could be crowned “Gassius Clay” for its position as the undisputed heavyweight champion of liquefied natural gas supplies among the energy majors.
So the company’s surprisingly bad second-quarter results, which sent its shares down more than 5 per cent on Thursday, should perhaps not be that surprising given the LNG market has become punch-drunk since the start of the year.
Prices for spot cargoes of the fuel in Asia, the core market for LNG, have fallen to less than half the level they were a year ago, as the market struggles to absorb a glut as new supplies come on stream in the US and Australia.
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