Following a Golden Decade, natural gas markets are moving to a trajectory characterized by slower growth, greater volatility, and higher uncertainty. The gas crisis triggered by Russia’s invasion of Ukraine marks a turning point for global gas markets. While markets moved towards a gradual rebalancing in Q1-3 2023, structurally higher gas prices pave the way for a slower and more uncertain demand trajectory, with growth almost entirely concentrated in Asia and the gas-rich markets of Africa and the Middle East. A strong increase in LNG liquefaction capacity towards the end of 2026 is expected to loosen market fundamentals and ease gas supply security concerns in the second half of the decade.
In the short-term, there is no place for complacency. High storage levels in the European Union provide cautious optimism ahead of the 2023/24 heating season, however a range of exogenous risk factors could easily renew market tensions. Northwest Europe will have no access this winter to two sources which used to be the backbone of its natural gas supply: Russian piped gas and the Groningen field.
The Center on Global Energy Policy at Columbia University's School of International and Public Affairs will host a panel of experts to discuss the latest edition of the International Energy Agency’s (IEA) medium-term gas market outlook, which provides a forecast to 2026, and a short-term update on recent gas market developments in 2023.
Moderator:
- Akos Losz, Senior Research Associate, Center on Global Energy Policy at Columbia University SIPA
Speakers:
- Dennis Hesseling, Head of Gas, Coal and Power Markets, IEA
- Tatiana Mitrova, Research Fellow, Center on Global Energy Policy at Columbia University SIPA
- Gergely Molnar, Gas Analyst, IEA
- Andrew Walker, Vice President for Strategy, Cheniere Marketing
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This event will be hosted via Zoom.
Advance registration is required. Upon registration, you will receive a confirmation email. The event will be recorded and the video recording will be added to our website following the event.
This event is open to press, and registration is required to attend. For media inquiries or requests for interviews, please contact Natalie Volk ([email protected]).
For more information about the event, please contact [email protected].
