Oil & Gas

Global gas prices are set to rebound

A glut of liquefied nat- ural gas that has sent global prices toward historic lows could be erased as soon as a year from now, accord- ing to Charif Souki, co-founder of LNG- terminal developer Tellurian Inc, reports Bloomberg. While gas prices are too low across the globe to justify build- ing new export termi- nals, more facilities are needed to meet rising demand, according to Souki. Given building terminals takes a long time, and limited new capacity is slated to come online in the next five years, LNG prices may be set for a rebound, he said. “They cannot crash any more than they already have,” Souki said in an interview last week, referring to LNG prices. “You cannot justify building anything at these current levels, it’s not sustainable. We are go- ing to be short of LNG” in the next 12 months, he said. Several new projects were greenlit last year.

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