LNG producers open new markets to soak up surplus

Perth

THE world's top producers of liquefied natural gas (LNG) are investing in ship-fuelling operations, floating import terminals and power plants to open new markets and keep from drowning in a fuel surplus expected to last into the next decade.

Companies such as Royal Dutch Shell, Total and Malaysia's Petroliam Nasional Bhd are scrambling to create demand as cheap coal and cleaner wind and solar power threaten to curb growth in the 250 million tonnes a year LNG market.

LNG suppliers have been put in a tough spot as demand from the world's top importers of the past few decades, Japan and South Korea, has declined due to slowing economies, more efficient use of power, and switche…