OIES Podcast – An Update on Global Gas Markets
In this latest OIES podcast James Henderson talks to Mike Fulwood and Jack Sharples about the current issues that are shaping the global gas market. After reviewing the downward trajectory of prices over the past few months they consider the key sources of supply to Europe before providing an overview of global LNG supply and demand. They discuss the potential for a demand rebound in Europe and Asia at current prices, but then focus on the risk that the EU could take firmer action on imports of Russian gas. They look at whether recent proposals to ban any increase in flows through Russian pipelines that have been shut down are likely to come to any concrete conclusion, and also ask whether the EU or member states are likely to impose restrictions on the import of Russian LNG. They also review the implications of the completion of the first tender held by the AggregateEU purchasing platform, and consider the question of whether European buyers will be persuaded to sign new long-term contracts for LNG supply. Finally, they review the current state of gas storage in Europe and ask whether the situation in the market is actually as benign as prices would suggest.
