Webinar - Global gas markets: What could the outlook be?
Global gas prices reached unprecedented levels at the end of 2021, with record prices hit around the globe. Both Asia’s JKM LNG price and Europe’s TTF gas price breached the $40/MMBtu milestone. Much has been written to dissect the causes of 2021’s price rally citing the impacts of COVID-19, China’s appetite for LNG, unscheduled shutdowns of some LNG production capacity, pipeline permitting issues in Europe, low gas storage levels, and the impact of a cold 2020/21 winter.
The issues mentioned above were not unique to 2021, supply/demand imbalances are regular occurrences. However, key hub prices have never held a breach above $20/MMBtu. How have prices been sustained at this level for months? We will show that there are emerging long-term factors that stoked this bull run to almost US$50/MMBtu.
This webinar addresses to what extent current market action is representative of a “new normal” to be expected in European gas markets and will also assess to what extent decarbonisation related stresses will be replicated in other markets, particularly Asia.