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LNG industry facing "lack of supply in five years" from reduced investment -TOTAL CEO
April 4, 2017 / 5:32 AM / 5 months ago

LNG industry facing "lack of supply in five years" from reduced investment -TOTAL CEO

CHIBA, April 4 (Reuters) - The liquefied natural gas (LNG) industry will face a shortfall in supply in about five years because low prices have kept producers from making new investments in production, Total SA Chairman and CEO Patrick Pouyanne said on Tuesday.

"Today we are facing global overcapacity that is putting pressure on prices," Pouyanne said at a gas industry conference in Chiba, Japan.

As a result, "the industry is entering a period of reduced investments … this could result in a lack of supply in five years," he said.

"We must carry on investing for the future," he said. (Reporting by Mark Tay; Editing By Tom Hogue)

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