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The outlook for LNG in 2021 and beyond

The outlook for LNG in 2021 and beyond

Oil & Gas
Alex Volkov, vice president global LNG marketing for ExxonMobil, provides his thoughts about the past year and offers a brighter outlook for the years ahead The past year has been one of many challenges. It has been a very tough 12 months, and many people have been faced with great hardships. The oil and gas industry has been no exception. And the LNG business in particular experienced some major disruptions. In the early part of the year, many countries implemented lockdowns resulting in a sharp decline in demand for LNG. The industry reacted accordingly by shutting down supplies and diverting cargoes. In the US, producers reduced production, and in July output rates stood at just 30pc of US capacity. During this time, ExxonMobil made a point of reaching out to customers to ens...