Low price could boost LNG development

A decrease in oil demand and, consequently, in prices last year because of Covid-19 also resulted in lower prices for liquefied natural gas (LNG). Business research consultancy Birguid associate researcher Patience Panashe argues that LNG buyers can take advantage of this to import LNG into South Africa at lower prices. “Inexpensive oil could have a dampening effect on all energy prices. LNG is a buyer’s market currently, especially with a glut of LNG on the market.”