A view of Golden Pass LNG
The new LNG wave is finally here
Growth in LNG supply will surpass the rise in demand in 2026 for the first time in years, according to Mike Fulwood, senior research fellow at the OIES, but lower prices are likely to encourage fuel switching and could create more demand on a permanent basis
The long-anticipated surge in new LNG supply is finally arriving, with growth in global volumes set to outpace the increase in total demand in 2026 for the first time in years, Mike Fulwood, senior research fellow at the Oxford Institute for Energy Studies (OIES), told Petroleum Economist. This is likely to start translating into lower prices, which in turn could spur higher demand over the years to come. There has been a steady stream of new projects starting up in North America over the past year, including Cheniere’s 10mt/yr Corpus Christi LNG Stage 3 expansion, Venture Global’s 20mt/yr Plaquemines LNG project and the Shell-led, 14mt/yr LNG Canada plant. QatarEnergy and ExxonMobil’s 18m
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