Cheap coal upsets LNG market's aspirations

Tokyo

ADD cheap coal to the challenges keeping the golden age of liquefied natural gas far from reality. Coal is gaining market share in the European Union while the role of natural gas in the region has shrunk in the past year, Christopher Jones, a director for energy with the European Commission, said at a conference in Tokyo on Wednesday. Buyers are in no hurry to commit to purchases, according to Qatar, the biggest LNG exporter.

"Cheap coal and increasing competitiveness of renewables are squeezing gas in many markets," Fatih Birol at International Energy Agency said. "For many, this means the golden age of gas remains more of a dream than reality."