Oxford Energy Podcast – Impact of COVID-19 on Global Gas Markets
In this podcast David Ledesma discusses with James Henderson, Jonathan Stern and Mike Fulwood the OIES’s latest Quarterly Report on the impact of the COVID-19 pandemic and the consequent global economic crisis on the global gas market. They examine the link between gas demand and GDP overall, before discussing the immediate impact of the crisis on gas consumption in various key regions, including Europe, China, India and the US. Then discuss the consequences for gas supply and trade, in particular highlighting the increased flows of LNG to Europe and its impact on storage levels. Concluding that if current trends continue, storage in Europe could be full by mid-summer, potentially catalysing a further decline in prices or the need for supply shut-ins. Finally they look at the potential longer-term consequences for the gas sector, asking eight critical questions about its role in the future global energy economy.