LNG market

Asian portfolios drive LNG contracting evolution | 04 Dec, 2017

Asian demand growth has never been more important for the LNG market.  Two credible scenarios bound the range of likely outcomes: High demand ...

Cracking the new US export business model | 06 Nov, 2017

48 mtpa of 2nd wave US export projects are queued to go.  They have sites, FERC approval and in many cases good access to infrastructure and skilled ...

Where will the next wave of LNG supply come from? | 30 Oct, 2017

The 2015-2020 wave of new LNG supply has been built on Australian and US export projects. Australian liquefaction projects were underwritten by long t ...

Barometers for LNG market tightness | 25 Sep, 2017

There seems to be an increasingly polarised debate about the state of LNG market balance.  This debate turns around use of the term ‘glut’. In ...

How Russia can balance the global gas market | 11 Sep, 2017

After the wild ride of 2014-16, a consensus is re-emerging as to the way forward for the LNG market. Across industry conferences, capital market prese ...

European gas supply sources: Norway | 10 Jul, 2017

Norway benefits from low sovereign risk, commercial flexibility and close proximity to key gas demand centres. Norwegian exports to Europe hit a recor ...

Practical view of Brexit impact on UK gas market | 03 Jul, 2017

The uncertainty surrounding Brexit is a breeding ground for theories and threats. There are some genuine economic risks posed by Brexit that may have ...

European midstream gas infrastructure in focus | 26 Jun, 2017

Midstream gas assets are coming back into focus after a lull across the first half of this decade. A 20% decline in European gas demand between 2010 a ...

Europe providing global gas supply flexibility | 19 Jun, 2017

Asia dominates global LNG demand. The US and Australia are challenging the Middle East for domination of global LNG supply. But it is Europe that has ...

Impact of the approaching LNG supply wave | 08 May, 2017

Supply growth from new LNG projects has to date been on something of a ‘rolling delay’. Project execution slippage and start-up/commissioning prob ...

Evolving trends in LNG contracting | 27 Mar, 2017

Several structural trends are combining to change the way that LNG is being contracted.  The traditional LNG contracting model was built on long term ...

Power sector switching, gas hub prices & volatility | 20 Mar, 2017

In early 2016, the idea of a significant recovery in CCGT load factors at the expense of coal plants was treated with a degree of scepticism. CCGT loa ...

US export flows, the supply glut and Europe | 13 Mar, 2017

The Sabine Pass terminal exported its first cargo in Feb 2016.  This marked the start of a new era of US gas exports, an almost unthinkable developme ...

Relative pricing dynamics driving European gas hubs | 27 Feb, 2017

A number of interesting dynamics have emerged in the European gas market over the last twelve months. On the supply side, relatively low LNG import ...

Winter LNG spot price volatility | 20 Feb, 2017

Global LNG spot prices have been relatively subdued over the past two winters.  Increases in global liquefaction capacity and weaker demand have kept ...

5 surprises for 2017 | 30 Jan, 2017

Our list of surprises for 2016 focused on changing energy market price dynamics. In Q1 2016, cyclically depressed conditions in a number of markets su ...

The impact of LNG imports on hub price volatility | 23 Jan, 2017

After 5 tough years, a glimmer of hope emerged for gas storage operators in 2016. Spot price volatility at European hubs started to show signs of a mo ...

Progressing up the mountain of LNG | 16 Jan, 2017

The LNG market is in the earlier stages of an unprecedented ramp up in supply. Global liquefaction capacity is set to rise by more than 50% by 2022. 2 ...

Revisiting our 5 surprises for 2016 | 12 Dec, 2016

‘We are fairly confident of one thing.  2016 will not be a dull year.’ This was our concluding statement from an article published on the Feb ...

Global gas price convergence: state of play | 28 Nov, 2016

A cold start to the northern winter is breathing some life back into global gas prices. There has been some excitement this month as Asian spot LNG pr ...

Asian demand response to lower LNG prices | 14 Nov, 2016

The Economics 101 textbook tells us that ‘if prices fall, demand should rise… all other things being equal’. It is an unfortunate reality of the ...

The impact of rising coal prices | 17 Oct, 2016

2016 has delivered its fair share of commodity market surprises. But none have been more unexpected than the sharp recovery in coal prices.  European ...

Gas rebalancing 2: the path to price recovery | 10 Oct, 2016

The first half of this decade saw an LNG investment boom.  High gas prices and optimistic Asian demand projections supported a flood of Financial Inv ...

Gas rebalancing 1: Clearing the global gas glut | 03 Oct, 2016

The global gas market has been shocked by the pace and scale of transition from boom to bust. At the beginning of 2014 suppliers were paying a lofty 2 ...

Utility asset sales: where are the value opportunities? | 18 Jul, 2016

The article below is our last before the summer break.  We will be back with more in late August. Three weeks ago we set out the case for an unpre ...