The global average for LNG prices in January is $4.24/mmbtu. This is a far cry from the five-year high of $10.95/mmbtu in September 2019. One year ago in January, the market was at $9.79/mmbtu. Warm weather in Europe has combined with China’s economic downturn and its growing domestic supply to dampen interest in U.S. LNG export terminals.

Analysts at McKinsey predict that only one in 10 proposed export terminals will be built.

The LNG industry has been there before. Many of the U.S. LNG export proposals are reconfigurations of import facilities that turned about face when natural gas from shale came along.

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