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Thursday, 3 August 2017

Global gas market may be the one place where the little guy wins

Global gas market may be the one place where the little guy wins: As the natural gas glut continues, smaller players — whether companies or countries — are becoming increasingly dominant. Small buyers including Pakistan, Egypt and Jordan are making up an increasing share of the global market, with expectations that they will account for 30% of demand by 2030, up from 19% last year, writes Naureen S Malik for Bloomberg. Global gas is now a buyer’s market as prices have plunged 46% over the past three years. This has led to larger scale projects, such as Petroliam Nasional’s USD 27 bn facility in Canada, to be shelved, while smaller scale projects are seen as more cost effective. These trends look set to continue, with Bloomberg New Energy Finance predicting that the supply glut will continue until 2026.

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