Commodity Market Report

Global Gas Service Highlights H2 2019: the next price cycle is already assured

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17 December 2019

Global Gas Service Highlights H2 2019: the next price cycle is already assured

Report summary

The global gas market oversupply will continue for the next couple of years and prices will remain low. But recovery is coming, The lack of LNG FIDs in 2015 to 2018 have sowed the seeds for price recovery in Europe and Asia from 2022. But record LNG FIDs this year and insufficient Asia LNG demand growth to absorb these volumes ensures the return of another low price cycle from the mid-2020s. Russia will continue to defend its market share in Europe and so not all pre-FID LNG projects will reach first gas as quickly as planned. Prices will fall again from 2025, lower and for longer compared to our previous outlook. The market will re-balance post-2030 and prices in Asia and Europe will be set by the cost of new US LNG.

Table of contents

  • Short-term o versupply a fact of life
  • Prices will r ecover
  • Russia will have its say
  • Not all proposed LNG project s can compete

Tables and charts

This report includes 7 images and tables including:

  • Global gas prices (2017-2025)
  • Historical and forecast LNG FIDs
  • Russia piped flows into Europe vs LNG imports vs Europe indigenous supply
  • Global gas prices (2015-2040)

What's included

This report contains:

  • Document

    Global Gas Service Highlights H2 2019: the next price cycle is already assured

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