OIES Podcast Series: Impact of Russia-Ukraine War on Energy Markets Series – 23

In this latest OIES podcast James Henderson talks to Mike Fulwood and Jack Sharples about the key developments in the European gas market over the past few weeks. They discuss recent price movements and the impact of cold weather finally arriving in Europe, and also look at the prospect for Russian flows being cut further as the exports through Ukraine appear to be under threat. They consider the continuing record level of LNG flows into the continent and discuss whether this is likely to continue into 2023, especially if and when China starts to open up from its COVID lockdowns. On the topic of storage, gas is now finally being withdrawn following an extended period of injection, and a key question remains how low storage levels will go by the end of winter and therefore how much will need to be injected next summer. The question of gas availability could be equally, if not more, pressing next year. Finally, the podcast also looks at the availability of LNG import capacity in Europe over the next 12 months and also considers the continuing flows of Russian LNG, even as pipe exports have declined.