Outlook 2024: Market regime shifts driving LNG portfolio value
Three main characteristics underpin a shift in global pricing dynamics creating a new regime
Russian supply cuts to Europe sent shockwaves through the global gas market across 2021-22. Market stress subsided to some extent in 2023, but the crisis is not over. The LNG market is set to remain in a tight regime until the next wave of supply ramps up from 2025-26, dominated by North American and Qatari volumes. In the meantime, demand response mechanisms in both Europe and Asia are setting global LNG prices. In Europe, the primary demand response mechanism is the switching of gas for coal plants in the power sector. In Asia, demand response is a more complex mix of fuel switching and industrial demand response. Asian demand flexib
Also in this section
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
22 January 2026
As Saudi Arabia pushes mining as a new pillar of its economy, Saudi Aramco is positioning itself at the intersection of hydrocarbons, minerals and industrial policy
22 January 2026
New long-term deal is latest addition to country’s rapidly evolving supply portfolio as it eyes role as regional gas hub
