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2022 outlook

Gas and LNG: predictions for 2022

The global gas industry entered the new year reflecting on the implications of COP26 while navigating record high prices. What are the key questions that will shape the strategic response in 2022? And what are the top themes and trends to watch in your region?

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  • Global gas and LNG: 5 things to look for in 2022
  • Asia
  • Europe 
  • North America
  • And more from our experts around the globe. 

What are the key themes and trends for global gas and LNG in the year ahead?

These are interesting – and challenging – times for the global gas industry. Record high prices are a clear signal that more investments in supply are required but questions remain around the role of gas as a transition fuel.

All eyes were on COP26 last November, although answers were sparse. Nonetheless, 2022 will be a cornerstone for the gas industry. Policy-makers will need to provide clear signals as to whether they see gas as a transition fuel. The industry will need to step up efforts to decarbonise the gas and LNG value chain.

Meanwhile, high gas and LNG prices could prove to be a double-edged sword. It will improve balance sheets and support investments, including in decarbonisation. However, at the same time, it could put pressure on gas demand globally.

So, what will the year ahead bring? Our experts have come together to share their views on six key questions that will shape the global industry in 2022:

  1. Will gas/LNG prices soften?
  2. Will oil-indexed levels in long-term LNG contracts increase?
  3. Will the Majors join the LNG FID party?
  4. Will the LNG industry shift from carbon-offset cargoes to CO2 reduction?
  5. Will higher prices result in gas demand destruction?
  6. Will the EU taxonomy include gas-fired plants as ‘transitional investments’?

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Find out how global gas trends might play out in your region:

Asia

Europe

Mexico

North America

Southern Cone

 

Asia

2021 was a tumultuous year for Asia's gas and LNG markets. In this report, our experts review key developments – including extreme LNG spot price volatility, recovery in long-term LNG contracting activity, and mixed performance in domestic supply growth – and ask: what's in store for 2022?

Find out more in Asia gas & LNG: 2021 in review and what to look for in 2022.

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Valery Chow, Vice President, Head of APAC Gas & LNG Research

Europe

Europe entered 2022 with record-high gas prices and worries about potential gas shortages over winter. The risk of a cold winter alongside continued uncertainty around Nord Stream 2 could see prices shoot even higher. What will the current crisis mean for the role of gas in Europe’s energy transition?

Find out more in Europe gas: 5 things to look for in 2022.

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Kateryna Filippenko, Principal Analyst, Global Gas Supply

Mexico

Accelerated economic recovery boosted power loads and gas demand in Mexico’s power and industrial sectors last year. And the February freezing storm that paralyzed Texas' gas supply caused massive blackouts across Mexico, putting a lack of storage capacity in the spotlight. So, could the first gas storage tender happen in 2022?

Find out more in Mexico gas, power and renewable service: what to watch in 2022.

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Rodrigo Rosas, Senior Analyst, Americas Gas Research

North America

The recent Henry Hub price gyration could foretell an eventful 2022 as the North American gas market seeks directions for growth across the value chain. What are the themes to frame market development in 2022, and what are the associated risks?

Find out more in North America gas: 5 things to look for in 2022.

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Kristy Kramer, Head of Markets, Gas & LNG Research

Southern Cone

Gas and power markets in South America’s Southern Cone region will see many uncertainties carried through to 2022, especially regarding the extent of the impact of the historic drought. And we expect three major events to shape the year ahead, including the new pipeline in Argentina.

Find out more in Southern Cone gas and power: what to watch in 2022.

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Henrique Anjos, Lead Analyst, Latin America Gas and LNG

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