LNG’s key role in rebalancing global gas market

Europe looks to be making it through its second winter without Russian pipeline gas, which previously made up almost a third of the region’s supplies. At the start of 2024 Europe’s vast storage sites remained well stocked and spot gas prices were continuing to slide lower, despite new geopolitical tensions as shipping routes through the Red Sea were disrupted. Global warming has played a part, with 2023 seeing the highest global temperatures on record, reducing heating demand. Industrial consumption of gas in Europe also remained subdued, with limited immediate sign of recovery despite lower prices. While European household customers have […]
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