FID delays boost Mena LNG export chances

Projects pushed back or cancelled elsewhere could offer opportunities for the region’s gas producers

Holders of Mena gas reserves have had a relatively good year, despite the coronavirus pandemic cratering global demand and prices for a large portion of its course. So says Noel Tomnay, head of Emearc gas and LNG consulting at researcher Wood Mackenzie. “European and Asia prices are back to c.$5.50/mn Btu, [and] there are expectations of very limited curtailments of US LNG this winter. In many ways, the LNG market is back to where it was pre-Covid,” he told Petroleum Economist’s LNG to Power Emea virtual forum in early November. And, in the longer term, delays and cancellations to planned LNG liquefaction projects elsewhere will play to the advantage of any regional ambitions to increase exp