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LNG: Higher Winter Gas Prices Reflect Nervous Market: Woodside

LNG

Higher gas prices for the Northern Hemisphere winter indicate the market is still finely balanced, according to Woodside Energy Group CEO, Meg O’Neill cited by Bloomberg.

  • “What we are seeing in the forward curve, particularly in Asia, is actually a bit of a tick-up versus a typical pricing level,” O’Neill said.
  • “The market is nervous about a cold winter and what that means, and customers are trying to get ready.”
  • The market is still susceptible to volatility with Europe competing with Asia for LNG as little new supply has come online.
  • The North Asia LNG futures curve prices are higher for this and next winter, before a drop from 2026 amid new supply. 
  • Woodside is happy to consider joining potential projects in the Middle East with a long-term role for LNG expected in the global energy mix, O’Neill said.
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