Europe gas briefing long-term outlook H1 2019

A briefing of the latest H1 2019 Europe gas market outlook, delivered as a PowerPoint presentation, accessible through the downloads section. The global gas market is finely balanced as Europe adopts its role as the global LNG sink. Storage build, coal-to-gas switching and reduced pipeline flows are accommodating the current flood of LNG - but prices could yet challenge US LNG economics. European demand will prove resilient through the 2020s but Europe's decarbonisation ambitions continue to build. Nonetheless, Europe's gas import requirements continue to expand. Future pipeline options become increasingly challenging underlining Russia's ongoing requirement to utilise Ukraine transit. But Russia will also shift its focus to LNG. Indeed, the second wave of LNG is starting to build and will lead to a second period of oversupply in the mid-2020s. Europe will once again have to provide an outlet to LNG suppliers.