A warmer-than-expected start to winter across large parts of the world is rapidly easing fears of a natural gas crisis that had been predicted to trigger outages and add to pressure on power bills.
Expert eyes are starting to turn to Christmas 2023, as Europe has kept the lights on through this festive period despite an energy crisis that has gripped the continent for more than a year.
The world is heading for a “turbulent period” as tightening supplies of liquefied natural gas and oil exacerbate a global energy crunch, Shell chief executive officer Ben van Beurden said.
Pakistan is in discussions for increased deliveries of liquefied natural gas from Qatar, the latest effort by the South Asian nation to help ease a crippling fuel crunch.
European natural gas prices fell for a fourth day as US supplies are expected to bring relief to the tight market and traders weighed both milder weather and risks to demand from the Omicron virus variant.
McKinsey Energy Insights (MEI) predicts LNG oversupply will last until 2024, leading to few new projects reaching final investment decision (FID) in the next 12 to 18 months.
