Bernstein has concluded that even a record-strength “Super El Niño” in 2026-27 would cut global LNG demand by only about 1%, an amount it calls immaterial against normal market volatility. Using Japan as an Asian proxy, the broker models a 19% fall in winter heating degree days translating into just a 2% drop in LNG consumption, because a large baseload of demand is insensitive to weather. Bernstein reiterates Outperform on Cheniere Energy (LNG) with a $283 price target and Market-Perform on Venture Global (VG) with a $14 target.
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