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Over $50bn in gas power projects and LNG import facilities at risk of cancellation in Bangladesh, Pakistan and Vietnam

Over $50bn in gas power projects and LNG import facilities at risk of cancellation in Bangladesh, Pakistan and Vietnam

Emerging markets such as Vietnam, Pakistan and Bangladesh that are turning to liquefied natural gas (LNG) as a source of power are likely to be hit by higher and more volatile prices going forward, according to a new briefing note from the Institute for Energy Economics and Financial Analysis (IEEFA).

 

Author of the note LNG/gas analyst Bruce Robertson said new gas-fired power plants and LNG import facilities totalling over $50bn are at high risk of cancellation as gas-fired electricity becomes unaffordable in emerging markets.

“Asian LNG spot prices have soared to a new high on the back of stronger than expected seasonal demand for heating as freezing weather grips large parts of the northern hemisphere,” said Robertson.

“Interruptions to supply in Malaysia, Australia and the U.S., three of the world’s largest LNG exporters, and higher freight rates have also affected prices.”

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