CHIBA, April 4 (Reuters) - The liquefied natural gas (LNG) market is headed for a supply shortage in the near future if no new investments in production projects are undertaken, Woodside Petroleum's WPL.AX Chief Executive Peter Coleman said on Tuesday.
"The current conditions are not favourable to major investments in greenfield developments ... 2017 looks to be a challenging year for the sanctions of (new) projects," Coleman told the audience at a gas conference in Chiba, Japan.
Woodside, however, expects new demand for the supercooled fuel to come from emerging markets that are likely to adopt floating storage regasification units (FSRU).
"They are simply a game changer for our industry," Coleman said, referring to FSRU technology.