An LNG vessel in Japan’s Tokyo Bay
Gas readies for its oil moment
The growth in spot LNG is transforming gas into a globalised commodity market
A need to transact naturally leads to markets. But the very nature of the energy industry—large capital investments, long gestation periods, specificity of assets—can lead to very volatile markets, with high risk and the potential for violent boom-and-bust cycles. As a result, the industry can tend away from fledgling competitive markets and towards natural monopolies. Having one large terminal or pipeline is more efficient than having many small ones. On the flip side, monopolies can often ultimately result in lower output and higher prices. Within non-free market value chains, a government normally takes a hand in regulating prices or ensuring ‘security of supply’—and bring with them new p
Also in this section
17 February 2026
The 25th WPC Energy Congress, taking place in Riyadh, Saudi Arabia from 26–30 April 2026, will bring together leaders from the political, industrial, financial and technology sectors under the unifying theme “Pathways to an Energy Future for All”
17 February 2026
Siemens Energy has been active in the Kingdom for nearly a century, evolving over that time from a project-based foreign supplier to a locally operating multi-national company with its own domestic supply chain and workforce
17 February 2026
Eni’s chief operating officer for global natural resources, Guido Brusco, takes stock of the company’s key achievements over the past year, and what differentiates its strategy from those of its peers in the LNG sector and beyond
16 February 2026
As the third wave of global LNG arrives, Wood Mackenzie’s director for Europe gas and LNG, Tom Marzec-Manser, discusses with Petroleum Economist the outlook for Europe’s gas market in 2026
