Testing times for the European gas sector
The market was already enduring a difficult 2020—and the Covid-19 outbreak will test it to its limits
The gas industry was already facing a quandary at the start of 2020—when it still seemed the Covid-19 outbreak could be contained to China. Through 2019, the world had begun to struggle to absorb the volume of new gas supply coming to market, as LNG facilities commissioned in response to a long-faded price signal continued to come onstream. Europe helped soak up much of this new supply as it built up storage inventories to guard against a potential flare-up of tensions between Russia and Ukraine over the renewal of their transit arrangements. But even then, these shipments into Europe were only defraying the losses of the offtakers from these new facilities, with delivered prices failing to
Also in this section
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
2 December 2025
The interplay between OPEC+, China and the US will define oil markets throughout 2026
1 December 2025
The North African producer’s first bidding round in almost two decades is an important milestone but the recent extension suggests a degree of trepidation
