Skip to 0 minutes and 0 secondsSlowing primary energy demand growth means that the share of gas in the world’s energy mix will still increase marginally over the next five years, despite slower global gas demand growth. The IEA expects that the oil market will be close to balance in the second half of 2016, and in 2017 it will be in balance.
Skip to 0 minutes and 24 secondsThere is a major difference between oil and LNG: The market for LNG is much smaller and less liquid. Therefore, a handful of new LNG export terminals, he argues, can significantly alter the supply, demand balance. The process of market rebalancing is likely to take longer for gas than oil.
Oil & gas market rebalancing
When is the oil market going to rebalance?
Likewise, when is the gas market going to rebalance? Why the difference in oil and gas markets? Do you agree with the IEA report on the reasons for the timing of rebalancing and the reasons for the difference between the oil and gas markets?
© Younkyoo Kim, Hanyang University