Record gas prices slow LNG investment in Asia; North America scrambles on exports – CNA

SINGAPORE: Some of the world’s biggest importers of liquefied natural gas (LNG) are reducing orders in the face of a 500per cent price surge within a year, raising concerns among major producers about potential long-term destruction of demand. LNG buyers, including numerous emerging economies in Asia, are baulking at prices that have doubled just within the past month, while a growing number of exporters in North America are straining to boost export capacity that will still take years to come online. Natural gas is viewed as a more acceptable fossil fuel as growing economies like India, China and Pakistan try…