Commodity Market Report

Global gas markets long-term outlook H1 2017 highlights: a tale of two basins

19 June 2017

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19 June 2017

Global gas markets long-term outlook H1 2017 highlights: a tale of two basins

Report summary

There are signs of market recovery in the Pacific Basin as demand in China and South Asia looks increasingly promising and LNG supply shortfalls provide headroom for increased Atlantic LNG imports. But it is a different story in Europe where not only Russia but also Norway and Algeria seem determined to maintain market share. We see the risk for a subdued European market to drag Asian spot prices down. This short note outlines our new H1 2017 view.

Executive summary
- Introduction
- The Pacific market is set to rebalance faster than expected
  - .driven by supply shortfalls....
  - ... and higher Asian demand
    - Global LNG demand (excluding Europe)
    - Europe will become increasingly oversupplied
      - Potential for a demand increase in Europe remains limited
      - European domestic production continues to decline
      - Pipeline suppliers to Europe are going for market share
    - European spot prices
    - Asian LNG spot prices
    - What will Russia do?
      - Global spot price outlook

Tables and charts

This report includes 4 images and tables including:

Executive summary: Image 1
Major pipe importers to Europe
Post-FID US LNG Plant utilisation
Executive summary: Image 4

What's included

This report contains:

Global gas markets - Prices - H1 2017.xls

XLS 201.00 KB
Global gas markets long-term outlook H1 2017 highlights: a tale of two basins

PDF 285.61 KB
Global gas markets long-term outlook H1 2017 highlights: a tale of two basins

ZIP 352.81 KB
Executive summary

PDF 125.81 KB