LNG Market Outlook: 2021 supply forecast raised due to low storage levels

LNG Market Outlook February 2021 Cold weather in Europe and a cold snap in Texas combined with months of storage withdrawals in Europe and Asia have changed the outlook for the summer months for the global LNG market. Where excess supply had been forecast, Poten forecasts that almost no cancellations will be required to keep the market balanced this spring and summer. The revised forecast is shown in the top graph with 2021 imports expected to be 374 MMt compared to the previous forecast of 369 MMt. Much of this additional volume will be headed to Europe where storage withdrawals have been extremely high due to low LNG sendout and subdued pipeline flows (see Europe section following). To read the full article, click here.