Gas, LNG & The Future of Energy: investment momentum builds in a volatile market

Wood Mackenzie’s third annual Gas, LNG & The Future of Energy conference took place in London from 10 to 11 June 2025, bringing together senior decision-makers across the gas and LNG value chain. The event featured more than 30 expert speakers, attracted over 300 attendees, and welcomed participants from more than 35 countries, highlighting its truly global reach. 

Featuring exclusive insights from Wood Mackenzie’s team of subject matter experts and industry leaders, the conference delivered a powerful programme. If you missed the event, you can still access a selection of presentation slides packed with the latest market insights by filling out the form. 

Investment momentum builds in global gas and LNG 

Over the past two years, the global gas and LNG sector has been rocked by disruption. Europe’s pivot away from Russian supply and the surge in prices created a highly uncertain outlook for the industry. Now, with the dust beginning to settle, a cautious consensus is emerging. 

The market will stay tight and volatile through 2025 due to limited new LNG supply. However, with 175 million tonnes per annum of LNG under construction and another 90 million tonnes expected to reach final investment decision by 2027, a significant wave of new supply is on the horizon. This is expected to bring much-needed balance to the market, but it will also put downward pressure on prices to accommodate more demand growth. 

Market cycles are nothing new to this industry. Players continue to position for market opportunities across the gas and LNG value chain. Investments in the US gas market is one of the spotlights for the industry as booming domestic demand will require developments of new more expensive supply and result in higher Henry Hub prices. More LNG supply and lower global LNG gas prices are set to kick start a new phase of LNG demand growth, particularly in emerging Asian markets, providing opportunities for long-term LNG contracts. Meanwhile, higher LNG imports in Europe will create value for holding regasification capacity.   

Volatility is here to stay 

Over the past two years, volatility has defined the gas and LNG market. Although prices have dropped from their 2024 highs, supply remains tight enough that any disruption can still trigger sharp movements. That dynamic isn’t going away anytime soon. Most of the new LNG capacity under construction won’t be operational until at least 2026, leaving the market exposed. 

Beyond timing, the structure of the market has fundamentally changed. Europe once acted as a flexible buffer for global LNG. In times of oversupply, it could reduce pipeline imports and use more gas to absorb excess LNG. When supply tightened, it could lean more heavily on coal and alternative imports to ease pressure. That optionality is now gone. With Europe increasingly dependent on LNG and with limited fallback options, it must now compete directly with Asia for marginal cargoes. 

This means we’re likely to see extreme pricing in both directions. When the market is long, prices could crash as traders struggle to place volumes—potentially testing the economics of US LNG projects. But when supply tightens, prices could spike sharply as Europe and Asia scramble to secure what’s left. 

Get more insight 

If you weren’t able to attend this year’s Gas, LNG & The Future of Energy conference, you can still catch up. We’re sharing a selection of presentation slides that explore key themes, including: 

• The evolving global LNG market 

• The outlook for LNG investments 

• Gas and LNG demand from the growing data centre sector 

• The new phase of gas demand growth across Asia 

• The changing role of biomethane and renewable natural gas 

Fill out the form above to access the slides.