for LNG Oversupply
Oil prices are on the mend, but the global LNG market continues to wallow in oversupply.
The Power of Siberia pipeline connects Russian gas to Chinese consumers—redrawing the energy map in the process.
LNG prices are set to tumble as a raft of new projects come online, but a tighter market is expected in the 2020s as project developers face questions on the next tranche of export projects.
The severe decline in investment in new LNG export capacity due to the price downturn that began in 2014 could precipitate supply problems in the 2020s, mirroring similar trends in the crude oil market.
The glut of supply could last years, threatening to keep prices low until the 2020s, but the oil majors are playing the long game, expecting the demand for gas to grow substantially over time.
IEA’s Laszlo Varro on LNG Oversupply, Changes in Gazprom’s Leverage, and the Outlook for Global Shale
What's next for the future of natural gas markets? IEA's Chief Economist Laszlo Varro offers his perspective on energy geopolitics, competition between LNG and renewables, and more.
Natural gas markets have not lived up to the expectations in the intervening years since the International Energy Agency originally speculated about a potential golden age for gas.
Russia has the means and determination to hold onto its gas market in Europe, but in doing so, will be forced to give up much of its leverage over pricing and the way contracts are written.