OPEC, for some quiet moments..

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If there are no postponements, Wood Mackenzie says the market could see an additional 100 MMtpa of LNG sanctioned in the next six to 18 months, extending the likelihood of an oversupply of LNG in Asia to 2025.

Wood Mackenzie: Where are all the LNG project postponements?

Six liquefied natural gas projects under construction at a cost of $200 billion will struggle to break even because of the oil price slump, the International Energy Agency said, and there is little prospect of three in the planning stage going ahead. The agency said even if oil prices recovered and averaged $US60 a barrel for the next few years, Australia's LNG industry – one of the world's biggest – will struggle to be profitable.

LNG: $200b worth of Australian projects 'probably not breaking even'

The projects not expected to proceed include Woodside Petroleum's Browse floating project and its Sunrise venture in the Timor Sea and ExxonMobil and BHP Billiton's Scarborough project off Western Australia. The IEA also doubts any existing LNG projects in Australia will receive the green light to expand this decade.

LNG: $200b worth of Australian projects 'probably not breaking even'

The small Pacific nation of Papua New Guinea, however, is seen as one of the few places where new plants will probably succeed because it costs less, according to Deutsche Bank AG and Bloomberg Intelligence. That helps explain Woodside Petroleum Ltd.’s bid unveiled Tuesday for Oil Search Ltd., Exxon Mobil Corp.’s partner in the $19 billion PNG LNG project. “Oil Search has the lowest-cost LNG growth opportunities globally,” John Hirjee and Andrew Lewandowski, Deutsche Bank analysts in Melbourne, wrote in a report after Woodside’s offer was announced. "The assets are strongly positioned to deliver accretive growth in the medium-term."

Woodside's $8 Billion Oil Search Bid Targets Lower Costs in PNG - Bloomberg Business