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LNG may have saved Europe in the winter of 2022/23, but Europe’s thirst for the fuel has changed much. Europe’s energy system now has less flexibility and is heavily dependent on spot LNG, the most volatile element of a market in which China has moved centre stage. [Gas in Transition, Volume 3, Issue 7] ....
Coal use hit an all-time high in 2022 and investment levels will rise this year. Oil investment is shaky, but not in the Middle East, suggesting a market increasingly subject to cartel control. LNG is well positioned to wrest market share from both coal and oil. [Gas in Transition, Volume 3, Issue 6] ....
While gas remains central to South Korea’s energy economy, high prices, pro-nuclear policies and a more moderate approach to phasing out coal may limit demand growth. ....