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NATGAS: Gunvor Sees Tight Gas Market: CEO

NATGAS
Energy BulletsBulletPower BulletsCommodities

Uncertainties surrounding the future of Russian gas supplies through Ukraine and delays in global LNG projects are keeping the market tight just as demand is set to rise, Gunvor’s CEO said, cited by Bloomberg.

  • “Gas demand is growing faster than oil”, Torbjörn Törnqvist said at the Energy Intelligence Forum in London Nov. 26.
  • While LNG demand is growing, the market faces a “confidence problem” with the super-chilled fuel, which “has to be solved as well,” Törnqvist said. “A lot of companies that have become dependent on LNG in 2021 or 2022 paid a huge price for that.” 
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Uncertainties surrounding the future of Russian gas supplies through Ukraine and delays in global LNG projects are keeping the market tight just as demand is set to rise, Gunvor’s CEO said, cited by Bloomberg.

  • “Gas demand is growing faster than oil”, Torbjörn Törnqvist said at the Energy Intelligence Forum in London Nov. 26.
  • While LNG demand is growing, the market faces a “confidence problem” with the super-chilled fuel, which “has to be solved as well,” Törnqvist said. “A lot of companies that have become dependent on LNG in 2021 or 2022 paid a huge price for that.”