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LNG investment behind the curve: Coleman
Up to $50 billion needed annually to meet forecast demand, Woodside Petroleum boss says
Liquefied natural gas producers each year, starting this year, need to approve projects totalling around 20 million tonnes per annum to meet projected future demand, according to Woodside chief executive Peter Coleman.
“This year we expect there will be maybe zero to 5 (million tpa of committed new investment). So we are already behind the curve,” he told the 22nd World Petroleum Congress in Istanbul.
The touted 20 million tpa investment translates to between US$30 billion or more.