IEA executive director Fatih Birol warns the LNG market could be even tighter in 2023
Asian LNG demand may tighten market
Demand, rather than supply issues, could keep prices high next year
LNG balances may become further stressed next year if demand rebounds in Asian countries—in particular, China and India—prolonging the energy price spike that has pressured the global economy. “We may well see that the LNG markets in 2023 will be rather tight, maybe tighter than this year,” IEA executive director Fatih Birol told the late-September LNG Producer-Consumer Conference. One of the reasons why Europe has been able to boost LNG imports “by a staggering 60pc” this year has been “sluggish economic growth” in China, Birol says. “If the Chinese economy recovers... it will be difficult for Europe to attract so much LNG.” “We may well see that the LNG markets in 2023 will be rather
Also in this section
29 January 2026
Caught between LNG risks from across the Atlantic and the wounds from Russian gas dependence, Europe needs more than a simple diversification strategy
28 January 2026
The alliance looks to bolster market management credibility by bringing greater clarity and unity to output cuts and producer capacity later in 2026
23 January 2026
A strategic pivot away from Russian crude in recent weeks tees up the possibility of improved US-India trade relations
23 January 2026
The signing of a deal with a TotalEnergies-led consortium to explore for gas in a block adjoining Israel’s maritime area may breathe new life into the country’s gas ambitions
