KUALA LUMPUR – PETRONAS President and Group CEO Tan Sri Tengku Muhammad Taufik has warned that rising LNG costs could depress demand and cause significant disruption in the global gas market. The next winter is projected to be especially difficult, since Europe enters the season with already low gas storage levels, increasing competition for available LNG supplies. Persistently high prices may put additional strain on industrial energy expenses and manufacturing profits, especially for energy-intensive companies that rely significantly on natural gas.
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(Source: The Star)