Latest News 2020: Liquid Natural Gas Market by COVID19 Impact Analysis
Gas industries are now experiencing fresh threats as a consequence of two events: the COVID 19 pandemics and global oil demand fluctuations as a result in the shortage of Liquid natural gas (LNG). Along with this, the existing imbalance between supply and demand in LNG markets will intensify and lengthen, contributing to a lower price setting. It could threaten, in the short term, up to 8% of global demand for LNG (over 25 million tonnes, or MTPA), whereas another one or two years could continue in the low price setting.
IMPACT OF COVID-19 on Mining and Metals Market 2020 Growth of CAGR
The outbreak of coronavirus started showing its impact mainly from March of 2020. The average share pricing of metal and mining industry dropped by almost 10% and many standalone companies have lost around 40-50% of their market value. The effect of COVID-19 has changed from moderate in March 2020 to high in April 2020 and is still aggressively increasing. Some of the major players in the mining market such as BHP Billiton, Rio Tinto, and Anglo American have so far reported partial shutdowns and due to this, the industry has almost reported a production loss of more than 30% till now.
Covid Effect: Impact on Liquid Natural Gas Industry 2020
The epidemic of COVID-19 has caused immense and unforeseen social and economic tension. Its consequences are serious and it is too early to assess results, although its duration is uncertain. The LNG business is influenced in a variety of areas, with some obstacles but still having some prospects. The LNG industry will theoretically recover from this crisis more healthily than at the beginning of this year.