Delays to US LNG won’t prevent gas prices from falling

A combination of delays to LNG export capacity in the US and greater demand for natural gas from AI data centres will, all else equal, constrain the supply of LNG over the coming years. However, against the backdrop of plentiful supplies from Qatar and weak demand, not least from China, we still think that EU natural gas and Asian LNG prices are set to fall.

We will be discussing what’s driving markets and where prices are headed through 2026 in a Drop-In on Thursday 20th November at 1000 ET/1500 GMT. Register here for the 20-minute online briefing.