Last weekend's landmark but inadequate deal by the OPEC-plus alliance to rein in production appears to have locked in a looming plunge in LNG prices over the next few months, pointing to a sharp drop in revenues for ASX-listed producers Woodside Petroleum, Santos, Oil Search and Origin Energy.

The gloomy outlook for the LNG sector was underscored by news on Tuesday that Liquefied Natural Gas Ltd, an aspiring exporter from the US, has only enough cash to last until May and "urgently" needs to secure additional funding after a takeover deal with a Singapore-based suitor collapsed.