Ieda Gomes

Senior Visiting Research Fellow

Ieda Gomes is a non-executive director of international companies in the energy and infrastructure sectors. She is also and independent consultant specializing in energy strategy, natural gas and LNG supply, pricing, contracts, and market fundamentals. In a career spanning 30 years in the gas and energy industry, Ieda has spent more than 13 years with BP, where she held senior executive positions, such as: vice president of new ventures for South Asia and Middle East, president of BP Brasil, and vice president of regulatory affairs for BP Gas and Power. Prior to BP, Ieda was the CEO of the S. Paulo Gas Company (Comgas), the largest gas distribution company in Brazil. Ieda is currently a councillor at the Brazilian Chamber of Commerce in Great Britain, a director at the Department of Infrastructure of the S. Paulo Federation of Industries,  and sits on the board of directors of Bureau Veritas, Saint Gobain, Exterran Corporation, and Prumo Logistica as an independent director. Ieda is a senior adviser and member of the Advisory Board of the Brazilian think tank FGV Energia and is an active member of International Gas Union (IGU), having served in the executive committee for two terms. She has presented at several energy conferences and training courses, and she is a member of the programme committee of LNG 2023. Ieda is on the advisory board of the consultancy Crystol Energy, co-chairs Access for Women in Energy and is a member of the board of WILL-Women in Leadership in Latin America. She is a regular columnist for the specialized magazine Brasil Energia. Ieda has a degree in chemical engineering from Universidade Federal da Bahia, an MSc in energy from Universidade de S.Paulo, and an MSc in Environmental Engineering from Ecole Polytechnique Fédérale de Lausanne.

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In this third edition of the Gas Quarterly for 2023 we once again review the series of signposts that we outlined as key indicators of the global gas market during the year and also draw some conclusions about the outlook for prices and the supply-demand balance.

In summary, we conclude that gas prices in Europe and Asia of $10-12/MMBtu in recent months reflect a relatively benign current market state, influenced by the continuing impact of warm weather, a modest recovery in Asian LNG demand, the continued availability of Russian pipeline gas and LNG, albeit at low levels, and European storage stocks that ended Q2 2023 around 20 Bcm high year-on-year. These positive factors have been tempered by curtailments in Norwegian pipeline supply due to maintenance and global LNG supply (as measured when regasified at LNG import terminals) not growing as quickly in the year-to-date as previously anticipated.

Looking ahead, while the rate of year-on-year growth in LNG supply may pick up, we could also see Chinese LNG imports begin to rise (as they had begun to do so in June). In Europe, the current high storage stocks mean that even with injection rates lower than last year, we could still see storage being full before the start of the winter heating season, putting downward pressure on prices in late summer.

Despite this relatively benign recent history and rest-of-summer outlook, the European market remains tight, with prices reacting to news that impacts expectations of supply. Looking ahead to winter, any surge in demand or unplanned curtailment of supply is likely to result in a sharp price reaction. As such, volatility is likely to remain the main feature of the market during the rest of 2023.

In addition to this market analysis, we include an essay on another interesting dynamic in the global LNG market, namely imports to South America. Ieda Gomes, a Senior Visiting Research Fellow at OIES, reviews the supply and demand balances in Brazil, Argentina and Chile over the past few years and highlights the dramatic swings in LNG imports that have been mainly caused by hydro availability but which have also resulted from the changing fortunes of gas production from the Vaca Muerta field in Argentina and from the gradual decline in gas supply from Bolivia. This latter trend could lead to more LNG imports in the short term, but increased indigenous supply in Argentina and Brazil, plus the completion of key pipeline infrastructure, could ease pressure in the medium term.

[post_title] => Quarterly Gas Review - Issue 22 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => gas-quarterly-review-issue-22 [to_ping] => [pinged] => [post_modified] => 2023-07-25 10:54:49 [post_modified_gmt] => 2023-07-25 09:54:49 [post_content_filtered] => [post_parent] => 0 [guid] => https://www.oxfordenergy.org/?post_type=publications&p=46380 [menu_order] => 0 [post_type] => publications [post_mime_type] => [comment_count] => 0 [filter] => raw ) [1] => WP_Post Object ( [ID] => 44403 [post_author] => 111 [post_date] => 2021-12-13 13:39:25 [post_date_gmt] => 2021-12-13 13:39:25 [post_content] => South America is endowed with vast energy resources and natural gas plays an important role in the supply of energy to the region. A few countries in the Southern Cone area such as Argentina, Brazil and Chile, also meet part of their demand needs with imported liquefied natural gas (LNG) and/or pipeline gas. In line with the objectives of diversifying to indigenous sources, reduce GHG emissions and advance the Paris Agenda towards net-zero emissions, there has been a push to increase the use of renewable sources in those countries, mainly solar and wind. In 2019 the installed capacity of wind energy more than doubled in Argentina year-on-year (albeit from a small base) whilst solar grew 19.6 per cent and 23.9 per cent in Brazil and Chile respectively. For many years, South American countries have been looking for viable ways to develop decarbonized gas such as biomethane, biogas and, more recently, hydrogen. This paper analyzes the efforts by Argentina, Brazil and Chile to decarbonize gas to reduce greenhouse gases emissions, including some significant projects already being developed and in operation. The paper also assesses the initiatives, timing and challenges, and describe the bottlenecks – including costs, infrastructure, financing and regulatory issues - impacting on the development of projects and the more widespread use of biogas, biomethane and hydrogen in these economies. Finally, the possibility of creating a regional market for decarbonized gas is investigated. Looking at the region overall, there is significant potential for biogas and biomethane in Argentina and Brazil, but less so in Chile.  In order to realise that potential, particularly for biomethane further incentives and regulations will be required.  For hydrogen, while PV seems to be the most competitive source for green hydrogen, levelised costs of green hydrogen remain at least double the cost of hydrogen from natural gas without CCUS.   Although the three countries are pursuing decarbonised gas projects, initial planning is still in progress and there is a lack of sufficient coordination between government and policy makers to drive the development.   Particularly for hydrogen, large scale developments are likely to be beyond the current NDC horizon of 2030, but putting a clear transition pathway in place soon will increase the likelihood of achieving the significant potential for decarbonized gases in the three Southern Cone countries. [post_title] => The decarbonization of gas in the Southern Cone of South America [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => the-decarbonization-of-gas-in-the-southern-cone-of-south-america [to_ping] => [pinged] => [post_modified] => 2021-12-13 13:40:56 [post_modified_gmt] => 2021-12-13 13:40:56 [post_content_filtered] => [post_parent] => 0 [guid] => https://www.oxfordenergy.org/?post_type=publications&p=44403 [menu_order] => 0 [post_type] => publications [post_mime_type] => [comment_count] => 0 [filter] => raw ) [2] => WP_Post Object ( [ID] => 43683 [post_author] => 111 [post_date] => 2021-05-07 11:41:17 [post_date_gmt] => 2021-05-07 10:41:17 [post_content] => Argentina is the largest gas market in South and Central America, with demand in excess of 41 bcm/year in 2020, which is comparable to the size of the French gas market. The discovery and development of Vaca Muerta world class unconventional gas resources created expectations that Argentina would not only be self-sufficient but also become a pipeline and LNG exporter. In the 90’s Argentina was a beacon for energy reform liberalisation and a solid pipeline exporter, but a fragile macro-economic environment coupled to continuous government interference on gas and energy prices led to a growing dependence on natural gas and liquids imports. This paper authored by Roberto Carnicer, Director of Energy at the Austral University, and Ieda Gomes, Senior Visiting Fellow of the OIES, focusses on the impact of successive regulatory changes on supply and demand, imports and exports. The paper also provides an assessment of the most recent gas plan aiming to encourage producers to meet priority demand in the residential and power sectors. The authors also analyse potential export markets for natural gas, if resources are fully developed, including petrochemicals, fertilizer and LNG. The paper provides an insight on the key issues impacting the development of LNG projects, including domestic demand seasonality and the need for new infrastructure. The authors concluded that “Argentina has certainly world-class gas resources and it has proved its capability to export gas to multiple markets. Hence, it is imperative to provide a reliable and long-lasting price policy and export regulatory framework as well as adequate financing mechanisms for the required infrastructure. [post_title] => Will Argentina Become a Relevant Gas Exporter? [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => will-argentina-become-a-relevant-gas-exporter [to_ping] => [pinged] => [post_modified] => 2021-05-12 17:30:41 [post_modified_gmt] => 2021-05-12 16:30:41 [post_content_filtered] => [post_parent] => 0 [guid] => https://www.oxfordenergy.org/?post_type=publications&p=43683 [menu_order] => 0 [post_type] => publications [post_mime_type] => [comment_count] => 0 [filter] => raw ) [3] => WP_Post Object ( [ID] => 40863 [post_author] => 111 [post_date] => 2020-09-10 12:01:54 [post_date_gmt] => 2020-09-10 11:01:54 [post_content] =>

Since the birth of the LNG industry, Asia has been the key market, providing high value, reliable demand. The 3 foundation markets of Japan, South Korea and Taiwan have been joined more recently by China and India to form the “big 5” which is often the focus for much analysis and comment. However, it would be wrong to ignore the smaller, emerging Asian LNG markets. By considering the 10 most significant emerging Asian markets, this report demonstrates that when combined, they have potential LNG demand over the next 2 decades as the combination of India and China. Like all demand forecasts, whether that potential is achievable is, however, depends on overcoming some significant challenges, as discussed in the report.

In addition, these smaller countries offer a diversity of analytical interest.  Malaysia and Indonesia are LNG exporters, now looking to become significant importers. Thailand, Pakistan, Bangladesh, Vietnam and the Philippines all see LNG as needed to supplement declining domestic gas production. Myanmar started LNG imports to address a power crisis, and Hong Kong and Singapore are largely driven by environmental and security of supply concerns.

With a chapter on each country and detailed breakdown of the forecasts generated by our World Gas Model, the document provides a useful reference of current perceptions of future prospects in those emerging LNG markets.

[post_title] => Emerging Asia LNG Demand [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => emerging-asia-lng-demand [to_ping] => [pinged] => [post_modified] => 2020-09-10 12:01:54 [post_modified_gmt] => 2020-09-10 11:01:54 [post_content_filtered] => [post_parent] => 0 [guid] => https://www.oxfordenergy.org/?post_type=publications&p=40863 [menu_order] => 0 [post_type] => publications [post_mime_type] => [comment_count] => 0 [filter] => raw ) [4] => WP_Post Object ( [ID] => 39906 [post_author] => 111 [post_date] => 2020-08-03 11:56:33 [post_date_gmt] => 2020-08-03 10:56:33 [post_content] =>

At a time of low prices and an apparent surplus of supply in the global gas market it is important to try and identify new sources of demand, especially for LNG. In this respect, one interesting theme is how some countries are switching from their traditional role as LNG exporters to becoming importers of gas as their indigenous demand grows. Ieda Gomes explores this concept using the case studies of Malaysia and Indonesia, and she attempts to identify the key drivers behind the shifts in the gas economies of both countries. Significantly, though, there are also a few countries where gas has an existing role in the domestic energy economy, and which have historically imported gas, which have now found new gas resources and are starting to export. A prime example of this is Argentina, where the discovery of large shale gas resources has led to a gas surplus and the opportunity to generate export revenues. This paper analyses this example as a contrast to the first two and examines whether it is a sustainable situation. Overall, we believe that this paper can provide some important insights into the factors which can influence the position of gas in a country’s energy balance, especially if the prevalence of hydrocarbons has created a dependency via subsidies prices or other politically-driven strategies. There are a number of other examples around the world where the demands of the domestic market can undermine a country’s ability to export its energy resources, and as a result we hope that this analysis can provide a greater understanding of the key drivers and consequences of this outcome.

[post_title] => The dilemma of gas importing and exporting countries [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => the-dilemma-of-gas-importing-and-exporting-countries [to_ping] => [pinged] => [post_modified] => 2020-08-03 13:27:06 [post_modified_gmt] => 2020-08-03 12:27:06 [post_content_filtered] => [post_parent] => 0 [guid] => https://www.oxfordenergy.org/?post_type=publications&p=39906 [menu_order] => 0 [post_type] => publications [post_mime_type] => [comment_count] => 0 [filter] => raw ) [5] => WP_Post Object ( [ID] => 30771 [post_author] => 111 [post_date] => 2017-12-11 11:04:25 [post_date_gmt] => 2017-12-11 11:04:25 [post_content] => The Caribbean has been described as a potentially ideal region for LNG imports due to its present dependence on diesel and fuel oil for power generation, high electricity tariffs and its proximity to regional LNG suppliers in Trinidad & Tobago and on the US Gulf Coast. Central America is also attracting investor interest as demonstrated by the construction of an LNG import terminal in Panama. The region is of interest to the wider LNG industry, as some of the technical, commercial and logistical innovations being developed for the Caribbean may be useful models for developing smaller potential LNG markets elsewhere in the world (e.g. in Africa, SE Asia, Mediterranean islands). While other parts of the world have struggled to progress LNG import plans, new projects have been developed in the Caribbean, such as in Jamaica and Panama, both relying on supply to power plants and alternative business models appropriate to the local markets. The small size of the markets presents logistic and commercial challenges for the supply of LNG and for financing the projects. This paper provides an overview of the Caribbean markets and the potential for LNG imports across the region. It also investigates the key commercial, logistical and regulatory challenges for the development of a natural gas market in the region. [post_title] => The potential market for LNG in the Caribbean and Central America [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => potential-market-lng-caribbean-central-america [to_ping] => [pinged] => [post_modified] => 2020-04-29 09:39:25 [post_modified_gmt] => 2020-04-29 08:39:25 [post_content_filtered] => [post_parent] => 0 [guid] => https://www.oxfordenergy.org/?post_type=publications&p=30771 [menu_order] => 0 [post_type] => publications [post_mime_type] => [comment_count] => 0 [filter] => raw ) [6] => WP_Post Object ( [ID] => 30265 [post_author] => 111 [post_date] => 2017-04-06 10:32:06 [post_date_gmt] => 2017-04-06 09:32:06 [post_content] => Over the past two to three years growing LNG demand in South America has provided an important outlet for LNG supply, in particular in 2016 when the majority of new US LNG exports ended up being delivered to the region. However, towards the end of the year and into 2017 that extra demand has fallen sharply, due to a number of factors discussed in this Comment. The overall conclusion, though, is that just as the much anticipated wave of new LNG projects is set to come online, so one of the major growth markets has gone into decline. This may be a temporary phenomenon, as it has much to do with weather patterns and economic growth, but the rise in Brazilian domestic gas production suggests that at least one longer term trend is pointing toward lower LNG requirements, at least in the short to medium term. This Comment assesses the overall state of Brazilian (and Argentinian) LNG demand and discusses the potential impact on regional and global gas markets. [post_title] => The vanishing LNG market in Brazil [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => vanishing-lng-market-brazil [to_ping] => [pinged] => [post_modified] => 2017-04-06 10:32:06 [post_modified_gmt] => 2017-04-06 09:32:06 [post_content_filtered] => [post_parent] => 0 [guid] => https://www.oxfordenergy.org/?post_type=publications&p=30265 [menu_order] => 0 [post_type] => publications [post_mime_type] => [comment_count] => 0 [filter] => raw ) [7] => WP_Post Object ( [ID] => 29706 [post_author] => 111 [post_date] => 2016-10-10 12:18:07 [post_date_gmt] => 2016-10-10 11:18:07 [post_content] => Argentina clearly has a world-class shale gas resource and its ‘crown jewel’ is the Vaca Muerta play. How such a resource might be developed and linked to global gas trade flows in terms, for example, of reducing Argentina’s LNG import requirements is a complex multi-vector issue.  This paper by Ieda Gomes and Roberto Brandt provides a comprehensive analysis of Argentina’s gas prospects based on a deep contextual understanding of the country’s hydrocarbon history, the changing regulatory and political framework of oil and gas production and its changing attractiveness, or otherwise, for IOC investment, and the outlook for the future. [post_title] => Unconventional Gas in Argentina: Will it become a Game Changer? [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => unconventional-gas-argentina-will-become-game-changer [to_ping] => [pinged] => [post_modified] => 2017-11-16 13:37:52 [post_modified_gmt] => 2017-11-16 13:37:52 [post_content_filtered] => [post_parent] => 0 [guid] => https://www.oxfordenergy.org/?post_type=publications&p=29706 [menu_order] => 0 [post_type] => publications [post_mime_type] => [comment_count] => 0 [filter] => raw ) [8] => WP_Post Object ( [ID] => 27342 [post_author] => 1 [post_date] => 2015-05-18 10:54:22 [post_date_gmt] => 2015-05-18 09:54:22 [post_content] => With US shale gas dominating the headlines of the energy media for the past several years, Canadian gas has been somewhat overshadowed. While gas industry followers outside North America may have been aware of the reduction in Canadian gas exports to the US, they will likely have missed the complex interaction of lower cost US shale invading regional Canadian markets formerly domestically supplied. This situation has been further exacerbated as Canadian transportation tariffs have been raised to compensate for lower throughput. Ieda Gomes provides a comprehensive analysis of the dynamics of these and other key elements of Canada’s gas fundamentals and how they have, and will continue, to evolve. The loss of Provincial and Federal tax and royalty take due to lowered exports, production growth and prices is also important and leads to an assessment of potential new market segments such as natural gas and LNG vehicles and Tar Sands sectors (currently impacted by low oil prices). This inevitably leads to the exploration of the obvious replacement for the lost pipeline export volumes, namely LNG exports. Readers will already be aware of the numerous proposed LNG export projects on Canada’s West and East Coasts. The paper provides a succinct description of each of these and details at the individual project level, and in overview, the significant challenges to be overcome; both physical, in terms of transportation distances and greenfield construction (in a region of insufficient skilled resources), and political, in terms of the myriad overlapping approval and consent processes that have to be satisfied prior to construction starting. A lack of clarity on the LNG-specific fiscal framework adds yet another layer of uncertainty. The final hurdle is of course the relative competitiveness of Canadian LNG projects to US Gulf Coast brownfield projects and Australian expansion projects at a time when; global demand for LNG over the next decade appears to have declined, the window for new supply requirement appears to have moved back to the early 2020s, and Asian buyers appear set on moving away from oil-indexed long term contract prices. Executive Summary [post_title] => Natural Gas in Canada - what are the options going forward? [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => natural-gas-in-canada-what-are-the-options-going-forward [to_ping] => [pinged] => [post_modified] => 2017-11-20 09:48:36 [post_modified_gmt] => 2017-11-20 09:48:36 [post_content_filtered] => [post_parent] => 0 [guid] => https://www.oxfordenergy.org/wpcms/publications/natural-gas-in-canada-what-are-the-options-going-forward/ [menu_order] => 0 [post_type] => publications [post_mime_type] => [comment_count] => 0 [filter] => raw ) [9] => WP_Post Object ( [ID] => 27413 [post_author] => 1 [post_date] => 2014-07-01 11:42:45 [post_date_gmt] => 2014-07-01 10:42:45 [post_content] => In recent years Brazil has received much attention in macro-economic circles as one of the high growth BRICS countries.  Its performance has waned of late, apparently due to lack of internal reforms and infrastructure bottlenecks, and as this paper, published today by the Natural Gas Programme of the Oxford Institute for Energy Studies demonstrates, these factors certainly ‘read across’ to Brazil’s natural gas sector. Initial excitement in the wake of Brazil’s offshore pre-salt hydrocarbon discoveries in 2007 and 2008 raised the prospect of Brazil becoming an LNG exporter.  Following further appraisal and market developments this prospect has receded and managing the country’s gas balance has been further complicated by low rainfall (and hence hydro availability) in recent years.  For these reasons Brazil has had to import LNG at Asian-equivalent spot prices to meet requirements which are difficult to forecast. In short Brazil is a market which any observer of the natural gas world is required to develop a working understanding of: in view of its scale, its potential for growth and its impact on the global LNG market.  However, its circumstances and specificities make such an understanding extremely difficult. This paper by Ieda Gomes offers a comprehensive, lucid and perceptive assessment of the evolution, status and future challenges of Brazil’s gas sector. [post_title] => Brazil - Country of the future or has its time come for natural gas? [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => brazil-country-of-the-future-or-has-its-time-come-for-natural-gas [to_ping] => [pinged] => [post_modified] => 2017-11-20 14:08:39 [post_modified_gmt] => 2017-11-20 14:08:39 [post_content_filtered] => [post_parent] => 0 [guid] => https://www.oxfordenergy.org/wpcms/publications/brazil-country-of-the-future-or-has-its-time-come-for-natural-gas/ [menu_order] => 0 [post_type] => publications [post_mime_type] => [comment_count] => 0 [filter] => raw ) [10] => WP_Post Object ( [ID] => 27479 [post_author] => 1 [post_date] => 2013-06-10 14:44:21 [post_date_gmt] => 2013-06-10 13:44:21 [post_content] => Natural gas commentary and industry focus on South Asia tends to target India, the largest gas market.   Pakistan and Bangladesh in aggregate however equal India in terms of gas consumption and as such are significant markets in their own right.  This paper by Ieda Gomes is an in-depth study of the genesis and present situation of these two significant gas consuming countries, including the drag on their potential economic output as a consequence of gas supply shortages and the attempts of each to secure gas import projects be they pipeline gas or LNG.  Their lack of success to date due to poor institutional capability, insufficient trust with potential suppliers or merely procedural shortcomings is recounted.  This said, there is clearly a need for both a re-invigorated upstream domestic exploration and development campaign and the implementation of a coherent import strategy.  Reform of domestic pricing is critical to the achievement of both these necessary developments. This paper is a detailed and comprehensive study of these gas markets at a crucial stage of their evolution. [post_title] => Natural Gas in Pakistan and Bangladesh - current issues and trends [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => natural-gas-in-pakistan-and-bangladesh-current-issues-and-trends [to_ping] => [pinged] => [post_modified] => 2017-11-20 14:32:17 [post_modified_gmt] => 2017-11-20 14:32:17 [post_content_filtered] => [post_parent] => 0 [guid] => https://www.oxfordenergy.org/wpcms/publications/natural-gas-in-pakistan-and-bangladesh-current-issues-and-trends/ [menu_order] => 0 [post_type] => publications [post_mime_type] => [comment_count] => 0 [filter] => raw ) ) [post_count] => 11 [current_post] => -1 [before_loop] => 1 [in_the_loop] => [post] => WP_Post Object ( [ID] => 46380 [post_author] => 974 [post_date] => 2023-07-18 11:08:05 [post_date_gmt] => 2023-07-18 10:08:05 [post_content] =>

In this third edition of the Gas Quarterly for 2023 we once again review the series of signposts that we outlined as key indicators of the global gas market during the year and also draw some conclusions about the outlook for prices and the supply-demand balance.

In summary, we conclude that gas prices in Europe and Asia of $10-12/MMBtu in recent months reflect a relatively benign current market state, influenced by the continuing impact of warm weather, a modest recovery in Asian LNG demand, the continued availability of Russian pipeline gas and LNG, albeit at low levels, and European storage stocks that ended Q2 2023 around 20 Bcm high year-on-year. These positive factors have been tempered by curtailments in Norwegian pipeline supply due to maintenance and global LNG supply (as measured when regasified at LNG import terminals) not growing as quickly in the year-to-date as previously anticipated.

Looking ahead, while the rate of year-on-year growth in LNG supply may pick up, we could also see Chinese LNG imports begin to rise (as they had begun to do so in June). In Europe, the current high storage stocks mean that even with injection rates lower than last year, we could still see storage being full before the start of the winter heating season, putting downward pressure on prices in late summer.

Despite this relatively benign recent history and rest-of-summer outlook, the European market remains tight, with prices reacting to news that impacts expectations of supply. Looking ahead to winter, any surge in demand or unplanned curtailment of supply is likely to result in a sharp price reaction. As such, volatility is likely to remain the main feature of the market during the rest of 2023.

In addition to this market analysis, we include an essay on another interesting dynamic in the global LNG market, namely imports to South America. Ieda Gomes, a Senior Visiting Research Fellow at OIES, reviews the supply and demand balances in Brazil, Argentina and Chile over the past few years and highlights the dramatic swings in LNG imports that have been mainly caused by hydro availability but which have also resulted from the changing fortunes of gas production from the Vaca Muerta field in Argentina and from the gradual decline in gas supply from Bolivia. This latter trend could lead to more LNG imports in the short term, but increased indigenous supply in Argentina and Brazil, plus the completion of key pipeline infrastructure, could ease pressure in the medium term.

[post_title] => Quarterly Gas Review - Issue 22 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => gas-quarterly-review-issue-22 [to_ping] => [pinged] => [post_modified] => 2023-07-25 10:54:49 [post_modified_gmt] => 2023-07-25 09:54:49 [post_content_filtered] => [post_parent] => 0 [guid] => https://www.oxfordenergy.org/?post_type=publications&p=46380 [menu_order] => 0 [post_type] => publications [post_mime_type] => [comment_count] => 0 [filter] => raw ) [comment_count] => 0 [current_comment] => -1 [found_posts] => 11 [max_num_pages] => 0 [max_num_comment_pages] => 0 [is_single] => [is_preview] => [is_page] => [is_archive] => 1 [is_date] => [is_year] => [is_month] => [is_day] => [is_time] => [is_author] => [is_category] => [is_tag] => [is_tax] => [is_search] => [is_feed] => [is_comment_feed] => [is_trackback] => [is_home] => [is_privacy_policy] => [is_404] => [is_embed] => [is_paged] => [is_admin] => [is_attachment] => [is_singular] => [is_robots] => [is_favicon] => [is_posts_page] => [is_post_type_archive] => 1 [query_vars_hash:WP_Query:private] => a554ac48a92685f67f7b4a0cc45e2f02 [query_vars_changed:WP_Query:private] => [thumbnails_cached] => [allow_query_attachment_by_filename:protected] => [stopwords:WP_Query:private] => [compat_fields:WP_Query:private] => Array ( [0] => query_vars_hash [1] => query_vars_changed ) [compat_methods:WP_Query:private] => Array ( [0] => init_query_flags [1] => parse_tax_query ) )

Latest Publications by Ieda Gomes