The global gas oversupply could end as early as late 2012 as Europe’s cushion withers and Asian markets tighten.
UK-based consultancy Wood Mackenzie said today that pipeline disruptions resulting from unrest in the Middle East and the impact of Japan’s earthquake have accelerated the forecast demise of the glut by two to three years.
With Europe’s oversupply now likely to end in 2013 rather than 2015, the continent is set to compete with Asia in the LNG market for the first time in eight years, rather than serve as a market of last resort, said WoodMac’s global head of gas, Noel Tomnay.
Europe’s
