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LNG supply glut triggers delays and losses

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A liquefied natural gas tanker carries its cargo into a port in Yokohama, Japan.   © Reuters

BANGKOK -- China, India and other liquefied natural gas importers are moving away from long-term contracts and want to renegotiate contracts made at the peak of the energy cycle -- potentially costing money for investors in production projects.

     These trends have added to the uncertainty affecting the LNG sector, already dragged down by the oil price crash and uneasiness about delays to major projects. The Australian energy group Woodside's Browse joint venture off the northwest Australian coast -- which analysts estimate will cost more than $40 billion -- was the latest to be put on ice in late March.

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