LNG market stress to persist for years
But a supply glut could be coming later this decade
Europe’s attempts to substitute Russian pipeline gas with seaborne LNG upended the whole sector in 2022, resulting in record price spikes and significant uncertainty ahead of the heating season. Europe prepared by filling gas storage sites, reducing demand and aggressively rolling out new LNG import infrastructure. Nevertheless, there were fears the bloc would find itself short of energy, and that would likely have caused another surge in LNG prices, with knock-on effects for competing Asian buyers. Instead, the global gas markets narrowly avoided a serious supply crunch this winter, aided by milder-than-usual temperatures across the northern hemisphere and muted Chinese demand. But the gas
Also in this section
9 January 2026
The Latin American producer’s crude prospects rely on a multi-pronged approach where even the relatively easy wins will take considerable time, effort and cost
9 January 2026
While many forecasters are reasserting the importance of oil and gas, petrostates should be under no illusion things are changing, and faster than they might think
8 January 2026
Indonesia and Malaysia are at the dawn of breathtaking digital capabilities. Their energy infrastructure must keep up with their ambitions
8 January 2026
The next five years will be critical for the North Sea, and it will be policy not geology that will decide the basin’s future
