GLOBAL LNG MARKET MAXED OUT

Countries around the world are rushing to secure the powerplant and heating fuel from major exporters like Qatar and the US, causing prices to climb. The global LNG market is all but maxed out in terms of supply and there is little new production coming online before 2026.

Europe is trying to replace Russian pipeline gas with LNG, though talks with Qatar have stalled amid reluctance from the likes of Germany to commit to long-term contracts. Many EU governments want to phase out fossil fuels and believe LNG deals would work against their climate goals.