LNG Glut To Get A Lot Worse This Year

Another LNG train is up and running in Australia, adding to the growing abundance of capacity. BG Group announced that its second LNG train at its Queensland Curtis LNG (QCLNG) facility in northeastern Australia is now up and running. When the facility ramps up and reaches its highest production level – expected in mid-2016 – it will be able to ship 8 million tonnes of LNG per year (mtpa), or the equivalent of ten ships per month. The $20 billion LNG project is not the only one expected to come online this year. Santos is planning on…

via OilPrice.com Daily News Update http://ift.tt/1gxgnAI

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