Record gas prices in Asia reduce LNG investment; N. America grabs exports
SINGAPORE / NEW YORK / BENGALURU, Oct 7 (Reuters) - Some of the world's largest importers of liquefied natural gas (LNG) are slashing orders after a 500-year price hike, raising concerns among potential producers about the potential longevity. -Destruction of demand term.
While LNG buyers, along with numerous emerging economies in Asia, are putting pressure on prices that have doubled in the past month, the growing number of exporters in North America is pushing for increased export capacity that will still take many years to come online.
Natural gas is seen as a more acceptable fossil fuel because growing economies such as India, China and Pakistan have sought to reduce carbon emissions, as they burn more cleanly than oil and coal. But rising natural gas prices are pushing electric...
