LNG Market Finds Stability in Moderate Pricing

Russell Hardy, Vitol CEO, discussed the benefits of moderate LNG prices for the industry, highlighting a stable price range of $6 to $9 per MMBtu. He emphasized the potential market shift from coal demand to LNG, estimating a transition of hundreds of millions of tons.

Russell Hardy, CEO of Vitol, expressed optimism on Tuesday about the liquefied natural gas (LNG) market maintaining a stable price range between $6 and $9 per MMBtu, which he sees as beneficial to the industry.

He cautioned against prices dropping too low, which could negatively impact the market dynamics.

Hardy also projected a potential shift from coal demand to LNG, estimating a significant conversion of billions of metric tons within the 400 to 600 million ton LNG market.

(With inputs from agencies.)