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RasGas CEO says buyer-seller collaboration is necessary for a sustainable LNG market

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LNG Industry,

Speaking at the recent Gastech conference in Singapore, the CEO of RagGas – Hamad Mubarak Ali Muhannadi – claimed a collaborative effort from LNG buyers and suppliers is required in order to maintain a sustainable LNG market.

Al Muhannadi said: “LNG buyers are currently comfortable with the availability of LNG and have a general wait-and-see attitude towards making new longer term commitments. However, if LNG suppliers fail to develop resources required to meet forecasted longer term demand growth – at the right time and place – there will be a supply and demand imbalance with longer term implications for LNG prices. It is therefore vital that we work together and not lose sight of the fact that LNG is a long-term business.”

Al Muhannadi also highlighted that the ‘voice of gas’ is becoming louder as natural gas penetrates the traditional energy supply mix. He said: “To help this vision along, we – as an industry – need to encourage the implementation of both market and policy – focused reforms that facilitate natural gas’ increased penetration. Both buyers and sellers need to work together to honour contractual commitments and to jointly influence and enhance the role of gas by providing appropriate support for initiatives promoted by governments and regulatory agencies.”

Edited from press release by David Rowlands

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