NGC prepares for brighter future for LNG

The LNG market faces challenges due to excess supply and the impact of Covid-19, but Trinidad’s state gas company has a strategy for the long term.

LNG prices have seen further declines in 2020, with the existing supply abundance exacerbated by the effects of Covid-19 on global economic growth and energy consumption. As a result, Trinidad and Tobago LNG Limited (TTLNG), the marketing arm of Trinidadian state-owned National Gas Company (NGC), has had to modify its strategy to ensure positive margins during this challenging time. The pandemic has played havoc with economic expansion in all countries. Global growth, originally estimated to increase in 2020, is now expected to decline in absolute terms by 3pc, according to the IMF. International gas prices are expected to decline to lower levels than previously forecast due to reduced deman