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S&P Global: LNG shortages will result in extreme market volatility in 2023
According to S&P Global Commodity Insights, US LNG terminals will stay near maximum capacity amid high volatility in LNG markets next year. Henry Hub prices are expected to settle lower as liquefaction capacity will not boost. A lack of new liquefaction facilities will be an obstacle for LNG output to grow, which will consequently lead to the competition between Europe and Asia.
EU countries could face a serious gas and electricity shortage next year. The halt to gas supplies from Russia will still be the main reason why Europe will fight an energy crisis.
Europeans are currently building LNG import infrastructure to replace Russian gas with US LNG and other alternatives. Next year, global gas demand will be mainly affected by Beijing's COVID-19 policy.
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