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
7 July 2025
The end of Grangemouth and Lindsey oil refineries marks a worrying trend across Europe amid cost and transition pressures
3 July 2025
The July/August 2025 issue of Petroleum Economist is out now!
2 July 2025
The global energy community will converge in Dubai on 10 December for a landmark event dedicated to shaping the future of natural gas across the region
30 June 2025
Government is sending out the right policy signals to support increased domestic gas development, but policy takes time to implement and even longer to yield results