Inpex head: Amid high demand, gas market will be ‘tight’ in ...| MENAFN.COM

Monday, 06 February 2023 05:27 GMT

Inpex head: Amid high demand, gas market will be ‘tight’ in medium term

(MENAFN) The market for liquefied natural gas will be “tight” in the medium term as demand recuperates in China and Europe increases imports of the super-chilled fuel, in line with the top executive of Inpex, Japan’s largest oil and gas exploration business.

“The demand and supply situation will continue to be relatively tight perhaps until the end of 2030, but no one knows what will happen after that,” Takayuki Ueda informed The National in an interview on Tuesday.

Worldwide competition for LNG loads is set to strengthen when China, the world’s second largest economy, revived its frontiers for the first time since 2020.

“The demand in China will increase after [the lifting of Covid-19 curbs] … that’s a good thing for us,” according to Mr Ueda.

On the supply side, moves from the Opec+ group of oil producers might be “very important” for short-term natural gas costs, he added.


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