U.S. LNG Demand Stays Strong Amidst China-Russia Gas Deals Concerns
Michael Sabel, CEO of Venture Global LNG, dismisses concerns that recent China-Russia gas agreements will weaken Asian demand for U.S. liquefied natural gas. Venture Global remains optimistic about continued demand in Europe and emerging Asian markets, emphasizing the stability of long-term investment decisions despite potential political impacts.
Recent gas agreements between China and Russia are unlikely to diminish Asian demand for U.S. liquefied natural gas (LNG), according to Michael Sabel, CEO of Venture Global LNG, the second-largest U.S. exporter. China, the top LNG importer globally, signed deals to enhance gas supply via the Power of Siberia pipelines.
Speaking at the Gastech conference in Milan, Sabel highlighted that long-term investment decisions outweigh short-term political effects, emphasizing strong demand in Venture Global's Sales and Purchase Agreements over the past decade. Venture Global foresees growing demand from both Europe and emerging markets in Southeast Asia.
Sabel downplayed concerns about oversupply affecting prices, affirming Qatar's increased output will benefit developing Asian countries with affordable gas. Despite legal disputes with companies like Shell, Sabel assured that Venture Global maintains competitive LNG pricing in the global market.
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