The impact of high spot gas & LNG prices on the gas market

The record high spot gas and LNG prices in 2022, which surpassed $70/MMBtu in August 2022, resulted in the reconfiguration of LNG trade flows, gas supply shortages, gas demand destruction, energy security concerns and slowdown in the energy transition. It remains to be seen whether these developments will result in temporary or structural changes in the market. The influx of LNG cargoes in Europe and high spot LNG prices have led to a sharp reduction in LNG imports in Asian countries, particularly those with a high exposure to the spot LNG market. This has in turn led to gas shortages […]