The economics for new LNG production are weakening, as demand is estimated to have already peaked in advanced economies such as Europe and South Korea; LNG demand growth in emerging Asian markets is also projected to slow. By the time Canadian LNG from most new facilities reaches markets near the end of the decade, global LNG supply is expected to have already outpaced demand, deflating global prices. As a result, Canadian LNG projects may struggle to compete with cheaper and incumbent producers—such as Qatar and the United States—without substantial public subsidies
