A surge in liquefied natural gas (LNG) supply coming to market over the next five years will be quickly absorbed by buyers in Asia, an executive with Vitol, the world’s largest independent oil trader, said on Wednesday.

“I’m not too concerned about a significant amount of LNG which is going to come to the market in the next five years,” Pablo Galante Escobar, Vitol’s head of LNG and EMEA gas and power, said at the Gastech conference.

“That additional volume is going to be absorbed very quickly,” he said.
Source: Reuters (Reporting by Florence Tan; Writing by Tony Munroe; Editing by Tom Hogue)