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With the growth in natural gas demand, my country is expected to import approximately 12.2 million tons of liquefied natural gas annually, equivalent to the supply of about 170 LNG carriers. Therefore, it is necessary to further strengthen the relevant infrastructure.
While the impairment is quite significant, the good thing is that it’s a non-cash adjustment, so there’s no impact on the RL’s cashflows. It also shows that the Group is taking a realistic and prudent approach in valuing the investment based on the current market price. With the investment now carried at a much lower value, this could provide a cleaner position going forward
