US supermajor ExxonMobil has put on hold plans to develop a liquefied natural gas import terminal in the Australian state of Victoria as demand for its gas was not strong enough.
“The interest of potential customers was insufficient,” a company spokesperson said.
“At this point, we have not received enough market interest to advance an LNG import project, however, we will continue to evaluate the market and work with customers to respond to their supply needs.”
Local sources suggested that potential customers had held off from signing long-term sales deals with ExxonMobil over concerns that prices could subsequently fall.
