OIES Podcast – Quarterly Gas Review Update

In this latest OIES podcast, brought to you by the Gas Research Programme, James Henderson talks to Mike Fulwood and Jack Sharples about the latest Quarterly Gas Review, published in early July. The discussion ranges from a review of current gas prices in Europe and Asia to an analysis of the impact of the cut in Norwegian supply due to maintenance in June and the impact it had on the European supply balance. Mike then provides an overview of global LNG supply, assessing whether it is above or below expectations for the year, and also considers the recent surge in LNG on the water and looking for a market. Gas and LNG import demand in Asia and Europe is then the focus, with both markets showing levels of consumption below expectations. This has led to Europe being able to fill storage to record levels for this time of year, with the possibility, as discussed by Jack, that it may be full before the start of winter. Indeed, he raises the issue that the use of storage in Ukraine may be an option if there is no other room for surplus gas supply.


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