From today's "The Age"
Basically LNG will go thru what iron ore has been thru an oversupply.. Whilst all the majors increase capacity
"
im Chanos, founder of hedge fund Kynikos Associates, said he's betting against shares of Royal Dutch Shell and BG Group because of poor prospects for producers of liquefied natural gas.
"This is a disaster waiting to happen," Chanos said at the SkyBridge Alternatives Conference in Las Vegas overnight, adding that he was also wagering against Chevron.
Chanos said that demand for LNG has been flat for the past few years and capacity is going to "skyrocket."
Shell agreed in March to buy smaller rival BG for $US70 billion in the oil and gas industry's biggest deal in at least a decade. Chanos, who predicted the collapse of Enron Corp in 2001, said earlier on Thursday that he was shorting oil majors.
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