Outlook for Gas Markets in 2023.
In this first Gas Quarterly of 2023 OIES reviews some of the key events in the global gas market in 2022 and outline a number of important signposts that we will be looking out for in 2023 as we continue to monitor the main implications of the Russia-Ukraine war.
At the time of writing in January 2023 the gas prices in Europe and Asia would seem to indicate a level of calm after the volatile storm that engulfed the global gas market in the aftermath of the Russian invasion of Ukraine in February 2022. However, they highlight that although prices are currently well below their mid-2022 highs they nevertheless reflect a tight market within which a number of potential triggers for a sharp upward spike in prices still exist.
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