Woodside sees ‘finely balanced’ gas market, China comeback still uncertain

Balance? There is not even going to be any semblance of balance in the gas market for a long while. All of the LNG that goes into all those new markets such as Germany had been FID’ed many years ago when a war between Russia and Ukraine was not even on the horizon. We must have known for a while that the Chinese miracle gets served some reality pie and will start to wobble but we could not have known by how much. We must have known that inflation always comes on the heel of reckless money printing but we could not have predicted when and by how much it would bugger the market. One thing is sure though – there won’t be a lot of party mood around for the next 10 years or more.

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