Huge LNG Facilities Going Online Will Drop Oil Prices Further

In the next few years, huge LNG facilities will force the already bottom line oil prices to further down.

2015
PFLNG 1 – 1.2 million tonnes per annum (mtpa) of LNG
2017
Shell Prelude – 3.6 million tonnes per annum (mtpa) of LNG, 1.3 mtpa of condensate and 0.4 mtpa of LPG
2018
PFLNG 2 – 1.5 million tonnes per annum (mtpa) of LNG

That is an additional of 6.3 million tonnes per annum (mtpa) of LNG to flood the market. This will extend the hydrocarbon glut further.