Gas Market’s Delicate Balance Threatened by Weather and Strikes

Risks from frigid weather to strikes and China’s appetite for fuel threaten to disrupt the market’s delicate balance, according to executives and analysts at the Gastech conference in Singapore this week. It won’t take much to create another supply squeeze this winter, they warn, emphasizing that the energy crisis is set to continue for years.

The comments highlight how the impact of Russia’s invasion of Ukraine continues to reverberate across commodity markets. The global gas market is set to remain tight until 2025 when more supply comes online, said Yukio Kani, global chief executive officer of Jera Co., one of the world’s top LNG importers.

China also remains a wild card that could upend the market. LNG imports for the first eight months of 2023 were up 11% from the same period last year, but still aren’t at levels seen in 2021, when the nation was the biggest buyer of the super-chilled fuel.

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