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Global LNG outlook 2024: supply shortfall to continue

In an unconstrained environment, the market could be under supplied by up to 12m tonnes in 2024. New LNG production additions will be limited, and gas demand will grow while remaining well below historical normal levels in Europe. Price signals, therefore, will need to remain firm at times through the year to drive the market to balance. As such, a return to pre-Ukraine war, and pre-covid, price levels are not expected for 2024.

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