Gas Markets in 2023. Tracking Key Metrics.
In their analysis Mike Fulwood and Jack Sharples point out that a relatively small rebound in demand in Europe or Asia on the back of low prices, or a cold winter, or a supply disruption such as the one seen at the Freeport LNG terminal in 2022, could easily disturb the current equilibrium.
In addition, there is of course the risk of a further reduction in exports from Russia, either because the route through Ukraine is disrupted or because Europe takes stronger action against imports of Russian LNG. As a result, it is too soon to be confident that our signposts necessarily point in a benign direction for the whole of 2023.