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
25 April 2024
Some companies with assets in Israel have turned towards Egypt as tensions escalate, but others are holding firm despite rising tensions
24 April 2024
But even planned exploration activity is unlikely to reverse declining output from mature fields
23 April 2024
Cheaper Russian barrels and lower overall crude prices have helped cut key oil consumer’s import bills in election year
22 April 2024
Pursuing three different goals as part of the same package may mean achieving none of them