Global gas and LNG themes - Q1 2017

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04 April 2017

Global gas and LNG themes - Q1 2017

Report summary

Our “Global gas and LNG themes” slidepack selects some current events and factors of relevance to the global gas and LNG market. These cover the issues that are front of mind for our team of gas market experts located across the globe, and those of key interest to our clients. It is available to subscribers of our Global Gas Service and draws on Wood Mackenzie’s comprehensive research, covering supply, markets, trade and pricing, and the corporate perspective.

Table of contents

  • New trains will drive strong global LNG supply growth through winter 17/18 and summer 18
  • PETRONAS’ MLNG capacity ramps up as feedgas dwindles
  • Australian domestic gas crunch could constrain LNG exports
  • Permian oil drilling has increased sharply, and we expect the play to deliver large associated gas volumes
  • Three major pipeline projects, designed to carry more than 6 bcfd, are planned for Nov. 2017
  • Asia’s emerging LNG markets will import ~16 mmtpa by 2025
  • Singapore policy changes in Feb 2017 to allow new piped gas supply and third party spot LNG imports up to 10% of total gas imports
  • Environmental policy in China will continue to support growth in power and residential sectors
  • Weak gas fundamentals in Brazil could affect rest of Southern Cone
  • Nuclear outages in France have exacerbated North/South pipeline bottlenecks, pushing gas prices in South France and Spain above Asian LNG price
  • So far, US LNG has flowed to higher priced markets than NW Europe. Trades to North Asia have materialized only through the winter
  • As global LNG markets rebalance, NW Europe is set to absorb more LNG – particularly from Q2 2018
  • Oversupplied global gas/LNG market throughout H2 2018 but US LNG economics could support prices in summer 2018
  • Sonatrach is adapting to changing market conditions, offering spot indexation and shorter term contracts for extensions
  • The emerging Asian LNG buyers dominated contracting in 2016
  • ExxonMobil makes counter-cyclical move into Mozambique

Tables and charts

This report includes 16 images and tables including:

What's included

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  • Document

    Global Gas and LNG Themes - Q1 2017.pdf

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