Cheap gas is reportedly fueling emerging markets, according to Reuters. The low-price is “tempting out new importers in Africa and South America, helping stave off a deeper price rout hurting producers’ bottom lines.” LNG suits emerging economies as they race to “bridge electricity shortfalls and support growth on tight budgets,” according to the wire service, which says “market debuts by buyers Egypt, Jordan and Pakistan last year were bright spots in an otherwise depressed trading environment.” Meanwhile, independent consultant Andy Flower estimates: "There is an increase of up to 17 [mn] tonnes in LNG supply in 2016 and terminals commissioned in 2015 and 2016 could account for 50 percent of that."

While we’re on energy, OPEC members are happy with the direction the oil market is currently taking. Letting low oil prices weed out surplus production is working, according to ministers from the UAE and Nigeria during a gathering in Vienna. It’s been widely anticipated that no new oil production caps will come out of talks scheduled for today. Meanwhile, Liam Denning writes of the organization’s waning power in OPEC Dying of Self-Inflicted Wounds.