Increasing spot market activity is helping provide business for older steam-turbine LNG vessels, GasLog chief executive Paul Wogan said.
Answering analysts’ questions on the company’s second-quarter results call, Wogan said the LNG market is maturing and becoming more liquid.
He said more LNG production is coming online, 25% to 30% of which is not contracted out, and the sector is also seeing US producers selling on cancelled cargoes and pushing additional product into the spot market.
