market is showing signs of tightening, driven by multiple supply and demand pressures and further compounded by the potential impact of a second Trump presidency.
The firm explains that European domestic gas production has been dwindling, particularly in the UK, where North Sea gas output dropped 12% in the first half of 2024 alone. Meanwhile, Bernstein says Brazil also became a significant LNG importer following a severe drought that reduced its hydroelectric power capacity, while Egypt, traditionally a net exporter, turned into a gas importer due to domestic shortages and production declines at the Zohr field.
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